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.
Developers built almost 140 million square feet of new retail space between 2002 and 2008 and only about 20 million square feet in the years since then, according to a report from ChainLinks Advisors. The trend might make sense in light of the recession and
Sotherly Hotels is acquiring an independent full-service hotel in Atlanta for $61 million, according to a regulatory filing. The hotel’s name has not been disclosed. The deal will close in less than 90 days. Read the American City Business Journals/Atlanta story here
The joint venture between Cerberus Capital Management and Chatham Lodging Trust has put 51 Innkeepers-branded hotels with a total of 6,847 rooms on the market. In 2011, the joint venture reached a deal with Innkeepers USA Trust to acquire 64 Innkeepers properties for $1.02 billion.
Hudson’s Bay Co. will open two Saks Fifth Avenue stores in Toronto, including a 150,000-square-foot, full-line store inside the Hudson’s Bay downtown flagship that will likely open in fall 2015. Hudson’s Bay, which acquired Saks for $2.4 billion last year, also said it would sell
Opportunities abounds globally in the hotel market. Looking around the world there are many areas in which hoteliers are looking to build hotels because they smell profit potential. That’s a sure sign global hotel development is going to be taking off during the next few
Billions of dollars are being directed to several airport infrastructure projects across six U.S. states. Modernization projects are underway or planned at the international airports in San Francisco, Los Angeles, Denver, New York, Florida, Louisiana and Texas. Read the Airport-World.com here
Real estate investment firm Winthrop Realty Trust has revealed plans for a second Edition-branded hotel in New York. The planned boutique hotel is scheduled to open in 2017 in Times Square with 452 rooms and 30,000 square feet of space for entertainment, food and beverage
Comcast and Liberty Property Trust are planning to develop a $1.2 billion office tower next to Comcast’s headquarters in Philadelphia. The project, the Comcast Innovation and Technology Center, will include a Four Seasons hotel. Comcast will sign a 20-year lease for 957,000 square feet in
A pair of multibillion-dollar projects are set to redefine the transportation system in Florida’s metro Orlando area, according to this article. The $1.2 billion SunRail system is scheduled to open in May, while a $2 billion plan to add toll lanes on Interstate 4 could
Denver-based burger chain Smashburger will consider options including taking the company public or selling it to finance a plan to expand into a national chain. The company recently commissioned a strategic review by North Point Advisors and Bank of America Merrill Lynch to help the
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