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.
Schimenti Construction Company is in the midst of building its first project for Under Armour to create UA’s first premium Brand House store in the Big Apple, scheduled for April. Located at 583 Broadway in Soho, the project is a complete gut and rebuild that
Host Hotels & Resorts has acquired The Powell Hotel in San Francisco for $75 million. The company said it would spend $22 million renovating the 151-room property and has hired Kokua Hospitality to take over management duties. Read the HotelsMag.com story here
A joint venture between funds controlled by Oaktree Capital Management and affiliates of Woodridge Capital Partners has acquired the InterContinental Mark Hopkins San Francisco hotel for $120 million. Seller InterContinental Hotels Group will retain management of the 383-room luxury property. Read American City Business Journals/San
Hotel group Carlson is planning two new concepts for Radisson franchisees: Radisson Red, meant to appeal to millennial travelers, and the five-star Quorvus Collection. Carlson wants to open 60 Red hotels and 20 Quorvus Collection properties by 2020. Read the Star Tribune story here
American Realty Capital Hospitality Trust is buying six hotels, or stakes in hotels, from Barcelo Crestline in a $102 million deal. The hotels are located in Virginia, Maryland, Georgia, Rhode Island and Connecticut. Read the GlobeSt.com story here
The same consumer demands that drive changes to the menu also fuel new restaurant designs, especially when it comes to opening up the kitchen to public view, industry experts say. Chains including Domino’s Pizza, KFC eleven, Bruegger’s Bagels, Rubio’s and Luna Grill are building new
Retail rents on popular streets in St. Petersburg, Fla., such as Beach Drive, have risen to as much as $50 per square foot. In other downtown spots in the city, rates average $16.93 per square foot. The high rents aren’t dissuading retailers from Beach Drive
Supermarkets will make up half of Houston’s retail development market this year, according to real estate firm Wulfe & Co. There are 28 new stores planned in the city. Among them: ALDI plans 10, Whole Foods Market will open four, Trader Joe’s and The Fresh
Devonshire REIT has acquired an open-air shopping center, Erie Commons, for $18.35 million in the Cleveland area. The center is anchored by Burlington Coat Factory and Jo-Ann Stores and was sold by an investor group led by Joseph G. Padanilam. This is the REIT’s second
The Trump Hotel Collection is studying all markets in its bid to expand its hotel portfolio across the globe, said Donald Trump Jr., Trump’s executive VP of development and acquisition. Trump Hotel Collection, which is featured as the cover story in November/December issue of Commercial Construction
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