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 120-room Hilton Garden Inn in Rancho Mirage, Calif., has been sold to Treasure Mountain Holdings for an undisclosed amount. The seller was HAS Holdings, a J Street Hospitality affiliate. Read the GlobeSt.com story here.
Aloft Hotels‘ development pipeline is regaining momentum after the recession as it shifts its focus toward conversion projects in urban areas. Executives say the brand could see the opening of its 100th hotel by the end of 2014. Aloft has 20 properties in its U.S.
Take-and-bake pizza chain Papa Murphy’s has selected Phoenix as one of two markets to unveil updated stores that highlight the company’s focus on fresh ingredients. Read the American City Business Journals/Phoenix
A new Hilton Garden Inn hotel could rise in Kanawha City, W.Va., under plans by Gold Coast Partners. The development firm is looking to open the property by 2015. Read the Charleston Daily Mail story here.
The Penn State Index of U.S. Hotel Values forecasts continued growth in hotel values, with an 8.8 percent increase projected in 2013. Hotel values are expected to grow 6.9 percent in 2014. Read the HotelNewsNow.com story here.
Hardee’s will make a return to the Northeast in the next year to 18 months. Its California-based parent company, which also owns the Carl’s Jr. burger chain, has its sights on New Jersey, New York, Connecticut and Massachusetts. Read the American City Business Journals/Philadelphia story
Extended-stay hotel brand Value Place is looking to invest $131 million into expanding its portfolio in South Florida. Value Place plans to develop 15 new hotels in the area over the next two years, with each property having 124 rooms. Construction on the first hotel
Wal-Mart is looking to add more than 200 of its smaller, urban Neighborhood Market stores in the next 18 months, bringing the total to more than 500. Rival Target is taking a slower approach with tests of its urban City Target concept at seven locations
Value Place has paid $115 million to acquire 22 hotels in the United States. The sellers were a partnership of Belvedere Capital Real Estate Partners and Angelo, Gordon & Co. Read the HotelsMag.com story here.
A Wal-Mart Neighborhood Market location will become the 15th large-format grocery in Boulder, Colo., and a Trader Joe’s store is expected to open next year. Other grocers say that while market share is getting smaller, the situation encourages hard work and differentiation. Read the Daily
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