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.
Sprouts Farmers Market opened its first Atlanta-area location last week and plans to add three more this year, working up to 15 in the next few years. The grocer believes Atlanta is kind of just the starting point for an entire Southeast expansion. Read the
With budget-planning season about to begin, PKF Hospitality Research has released its forecasts for local U.S. markets in 2015. Hotel supply is expected to show less than 2 percent net change next year in 42 of 55 markets covered by PKF’s research, while demand in
Resort operator Club Méditerranée has received a hostile takeover bid from Global Resorts amounting to $28.74 per share. Shareholders Fosun International and AXA Private Equity in May last year made a buyout offer for the company amounting to $761 million, or $23.95 per share, and
The upscale Hotel 1000 in Seattle has been sold to a joint venture between Thayer Lodging Group and Provenance Hotels. The 120-room property will be managed by Provenance, which operates seven of 14 hotels in its portfolio. Read the Commercial Property Executive story here
A San Antonio company has finalized a deal to acquire Furr’s Fresh Buffet and Dynamic Foods out of bankruptcy. Food Management Partners now owns 25 Furr’s restaurants across five states as well as the Dynamic Foods production and distribution facility in Lubbock, Texas. Financial terms
Vestis Retail Group, the Philadelphia-based parent of East Coast chains Eastern Mountain Sports and Bob’s Stores, will acquire Southern California-based Sport Chalet, in a cash-and-debt deal valued at about $70 million. The 55-year-old sporting goods retailer operates 51 stores in four Western states. Read the
Portillo’s, the 38-unit Chicago-based chain founded in 1963 and known for its Chicago-style hot dogs, said that Boston-based Berkshire Partners has invested in the business. Details of the deal were not disclosed, but the sources put the value of the equity investment at nearly $1
American Eagle Outfitters will continue its international push with the opening of its first three U.K. stores this fall. The teen fashion retailer, which will trim its U.S. store count over the next few years, has been growing overseas since 2012. Today, it operates or
Loews Hotels & Resorts has purchased the 556-room InterContinental Chicago O’Hare for $120 million. Loews, which is also developing a 400-room hotel in Chicago, said it plans to rebrand its new acquisition as a Loews hotel. Read the Hotel Management online story here
The Target store at the Quarry shopping center in Minneapolis is a testing ground for innovations, from mannequins showing off private-label fashion brands to a track for testing out strollers. The store is the first to get a revamped toy section and one of a
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