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.
The Dallas/Addison Marriott Quorum in Addison, Texas, has been sold to Wheelock Street Capital for $55.7 million. Aimbridge Hospitality will take over operations at the property. Read the GlobeSt.com story here.
Maritz, Wolff & Co. has agreed to buy the 165-suite Renaissance St. Louis Suites Hotel for $3.2 million. The buyer plans to spend about $15 million on renovations and will rebrand the property as a Marriott Courtyard hotel, scheduled for an early 2016 opening. The
La Quinta Holdings has announced its filing for an initial public offering. The hotel chain owned by the Blackstone Group did not disclose the amount of shares it plans to sell or the sales price. La Quinta manages about 80,000 hotel rooms at more than
Construction firms added jobs in 39 states over the past 12 months, while employment nearly stabilized in the remainder, according to an analysis released by AGC of America of Labor Department data. Association officials cautioned that the industry’s recovery was still relatively fragile, noting that
Construction of a 208-room Doubletree is expected to begin shortly in Reading, Pa. The nine-floor facility is scheduled to open in summer 2015. The hotel will feature a swimming pool, a 12,000-square-foot main ballroom, a 4,000-square-foot smaller ballroom and a restaurant and bar facing Penn
InterContinental Hotels Group has agreed to sell an 80 percent stake in the InterContinental New York Barclay Hotel to an affiliate of Constellation Hotels Holding for $240 million. Under the deal, the 685-room hotel will also undergo $175 million in renovations beginning in 2014. IHG
Restaurant sales have been on the upswing this year, according to preliminary Census Bureau data and a report from Mintel that also predicts 5.9 percent growth next year. Five key trends are likely to drive the industry in 2014, including the continued growth of fast
Darden Restaurants will spin off seafood chain Red Lobster into a separate company next year, but it will also consider a sale of the 705-unit chain if that would raise more cash. All three of its long-time chains saw same-store sales fall last quarter, and
Barneys New York will reclaim its original store space in New York City’s Chelsea neighborhood next year, after the Loehmann’s store there closes, with plans to take up 57,000 square feet over five floors. The retailer left the space 17 years ago after opening a
A proposed $1 billion mixed-use project in Jacksonville, Fla., would include residences, retail space, dining and convention center facilities, museums, hotels and an aquarium, along with a 1,000-foot-tall observation tower, which would be Florida’s tallest. Killashee Investments, the project’s developer, says the project hinges on
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