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.
Blackstone Group is purchasing the Cosmopolitan of Las Vegas hotel and casino for $1.73 billion. The acquisition of the 2,995-room property would be Blackstone’s first major investment in the casino industry. Read the Bloomberg story here
Accor said a new brand is in development that will conform with customs in the Middle East and offer amenities that fit the cultural needs of hotel guests in the region. The Majlis Grand Mercure brand already has one hotel operating in Madinah, Saudi Arabia,
Bargain Hunt, a 10-year-old chain based in La Vergne, Tenn., is enjoying rapid growth. The company now includes 23 stores in six states, and executives have plans to add seven more by the end of the year. The stores stock an eclectic mix of products
A city proposal to build a 450-room convention hotel in Des Moines, Iowa, was among the applicants for funding under the state’s Reinvestment District program that were deemed eligible to move forward. The proposals are set to be presented to the board of the Iowa
Chicago-based Victory Park Capital Advisors has acquired the 50-unit Daphne’s California Greek chain from Wreath Equity, which bought the Carlsbad, Calif.-based company out of bankruptcy in 2010. Daphne’s has locations in California and Colorado. Read the Nation’s Restaurant News story here
International Meal Co., the Brazil-based franchisee that bought the Margaritaville restaurant chain, is mapping an expansion plan that includes non-traditional, high-traffic venues such as airports and stadiums. The company already plans to open new units at airports in the Dominican Republic and Sao Paolo, Brazil,
Fast-fashion retailer Forever 21 opened its first F21 Red concept store in South Gate, Calif., an 18,000-square-foot space filled with lower-priced fashions and accessories from several of the retailer’s lines, according to Women’s Wear Daily. Forever 21 says the store is an opportunity to go
Sixty Hotels will operate the 251-room hotel at 1825 Collins Ave. in Miami Beach, Fla., launching it as the Nautilus South Beach. The hotel will have 29 suites, two penthouses, event space, a pool bar and a restaurant headed up by Chef Claude Troisgros. This
One Congress is a $2.2 billion redevelopment of Boston’s 11-story Government Center Garage, considered by some as “one of the ugliest buildings in Boston.” Work is expected to start next year, and will include six buildings that span two blocks. Nearly 800 apartments and condos,
U.S. women’s fashion retailer Chico’s FAS will expand into Canada when it opens the first three Chico’s stores in the Toronto area this summer, according to The Wall Street Journal. The company entered the Canadian market last year with the opening of its first three
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