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.
A proposed $335 million convention center hotel project in Houston takes a step closer toward actual construction after its developers, Rida Development and Ares Management LLC, announced that they have secured funding for the project. More than 1,800 construction jobs will be created to build
Whole Foods Market is in the midst of its most aggressive expansion, planning to add 33 to 38 stores this fiscal year. The company has begun operating within smaller markets and is fighting off steep competition from natural-food grocers, such as Sprouts Farmers Market and
Construction activity is expected to increase at the site of a billion-dollar redevelopment project dubbed Point Ruston in Tacoma, Wash. The project is scheduled to break ground on January 2. Read The News Tribune story here.
The 355-room Radisson Hotel Fisherman’s Wharf and Retail in San Francisco has been sold to Pebblebrook Hotel Trust for $132 million. Pebblebrook said it plans to rebrand the hotel after investing $18 million to $20 million into renovations to the property over the next two
Pie Five Pizza Co. has awarded 38 franchise units to ALC Hospitality, a restaurant management company owned by Alyse Cohen, who will bring the concept to northern Virginia, southern Maryland and the District of Columbia. Read the PizzaMarketplace.com story here.
Construction has begun on a new retail center in Las Vegas that is designed to mirror Istanbul’s Grand Bazaar. The two-acre project, being developed by Larry Siegel, will open next year on the Las Vegas Strip. Read the NorthJersey.com story here.
Chatham Lodging Trust has purchased the SpringHill Suites Savannah Downtown/Historic District in Savannah, Ga., for $39.8 million. The 160-room property reported an almost 6% increase in revenue per available room year-to-date through Sept. 30. Read the GlobeSt.com story here.
Authentic Brands, an affiliate of private-equity firm Leonard Green & Partners, will pay $225 million to acquire Lucky Brand denim from parent Fifth & Pacific. Earlier this year, Authentic Brands agreed to acquire the intellectual property of Lucky’s sister brand Juicy Couture for $195 million.
Homewood, a small market in Illinois, has been leveraging the pop-up-store model that typically is used in big cities to fill vacant retail space in the city’s one-square-mile downtown. Temporary shops, many by local artists and craftspeople, have been established in the seven vacant spaces
InterContinental Hotels Group plans to open an Even wellness-themed hotel in New York’s Brooklyn borough in 2015, bringing the hotelier’s pipeline of Even-branded properties in the city to three. IHG has already begun construction of the planned 204-room hotel. Read the Hotel Management online story here.
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