Shawmut Design and Construction has joined Draper and Wexford Science & Technology to break ground on the 111,000-square-foot Integrated Microelectronics Production & Advanced Chip Technology (IMPACT) Center in Lowell, Massachusetts.
Oxford Capital Group has acquired Chicago’s Essex Inn–Michigan Avenue hotel for an undisclosed amount through a joint venture with Quadrum Global. The new owners said they plan to renovate the 254-room property and reposition it as an upscale hotel. Read the HotelsMag.com story here
Ashford Hospitality Trust is looking to bolster its balance sheet as it eyes the hotel market for more transactions. Ashford recently acquired a pair of hotels in Texas and California for a total of $58 million using cash earned from an equity raise. The company reported
Tampa, Fla.-based Bloomin’ Brands will sell its 20-unit upscale Roy’s restaurant chain, a “Pacific Rim” cuisine concept founded in Honolulu in 1988, the company said. In addition, it will close 34 of its 110 Outback Steakhouse restaurants in South Korea, amid a slowing economy and
Amazon plans to open its first brick-and-mortar store in New York City before the holiday season. The storefront will only serve as a place for NYC customers to pick up goods the same day they’re ordered and to make returns, but it may eventually sell
The Atlanta Braves baseball team is getting a new stadium in Georgia’s Cobb County. That has spawned additional development in the area including a mixed-use project tentatively called Stadium Walk. The $100 million project will include apartments, hotels and retail space. There are additional projects
The U.S. is the “hottest market” for Choice Hotels right now, and the company is focusing on American job growth, as well as growth of its lower-tier brands. Choice, whose locations are all franchised, is investing in revamping its overall brand and its room experience.
Hotel industry experts say both buyers and sellers have reason to be happy with the present real estate landscape, with sellers leveraging strong hotel fundamentals to raise property prices and buyers setting their sights on select-service hotels in secondary and tertiary markets. But landing deals in
Schimenti Construction Company is steadily at work in Manhattan’s Herald Square shopping district building the largest-ever H&M store in the world. Slated to be completed in spring 2015, the store will occupy 62,394 square feet on four floors. This H&M flagship, at 1293 Broadway in
MDM Development has secured zoning exemptions for a planned $600 million convention center and hotel in Miami from the City Commission, paving the way for a planned groundbreaking by year’s end. Plans for the Marriott Marquis Miami World Center call for a 1,800-room hotel and
Trilogy Spa Holdings is planning to build what it says will be the largest luxury hotel fitness and health club in America. The 175,000-square-foot Well & Being spa and wellness center will be part of the Four Seasons Resort in the Dallas suburb of Las
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