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.
Increasing interest by lenders and the emergence of creative lending strategies will likely boost transactions volume and pricing in the lodging industry, several experts say. Investors looking to refinance properties are also getting support from a rise in commercial mortgage-backed securities. Read the Hotel Management
Specialty gadget retailer Brookstone is reportedly preparing to file for bankruptcy protection as soon as this weekend, with a plan to sell the struggling company to Spencer Spirit Holdings, the parent of specialty retail chains Spencer’s and Spirit, according to a Wall Street Journal story.
Soccer superstar David Beckham of the U.K. and his development group have unveiled plans to develop an open-air, 25,000-seat soccer stadium on Miami’s waterfront. Funding for starting up costs worth $200 million is already in place, although the actual project cost is still a work
There are presently 42 hotel projects in the works in Los Angeles and 20 in Orange County, Calif., according to STR, a firm that studies the hotel industry. Across the country, demand for hotels still appears to be outpacing supply, at least at the moment.
The Wendy’s Company is gearing up for the completion of its System Optimization initiative, launched in July 2013, with the sale of 104 restaurants in four U.S. markets, including Phoenix, Los Angeles/Palm Springs, Hawaii and Albuquerque. Read the QSRWeb.com story here
New York-based private-equity group Sentinel Capital Partners has acquired 10-year-old fast-casual chain Newk’s Eatery for an undisclosed amount. Newk’s operates about 60 restaurants in the Southeast; Sentinel’s portfolio includes interests in Taco Bell, Church’s Chicken, Checkers and Pizza Hut. Read the American City Business Journals/Birmingham,
Despite its appeal to the millennial segment thanks to Ivanka Trump’s design input and social-media following, the Trump Hotel Collection aims to have a brand image that resonates with luxury travelers of all ages. Read the Skift story here
Acclaimed lifestyle group Nobu Hospitality LLC plans for the development of the luxury boutique Nobu Hotel and Restaurant Chicago with a leading U.S. real estate development firm. Read the TravelPulse story here
Meliá Hotels International has signed a deal to for its first hotel in New York. The Innside by Meliá in the city’s NoMad district will have 313 rooms and is expected to open in 2016. Read the HotelsMag.com story here
When Red Robin Gourmet Burgers decided to make its Seasoned Steak Fries available in the supermarket frozen food case, the process was more complicated than it might seem. For Red Robin and a growing number of other restaurant brands that launch retail versions of popular
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