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.
Toys R Us plans to add 900,000 square feet of new, relocated or converted store space through traditional and outlet stores this year. New and converted store space includes conversions at 14 stores in the United States; new, wholly owned stores in 10 countries outside
A study by Jones Lang LaSalle forecasts robust transaction activity in the L.A. market during the second half of 2013. Jones Lang LaSalle says hotel sales during the first half weakened on investors’ caution over the fiscal cliff. Read the GlobeSt.com story here.
Carey Watermark Investors has announced its purchase of Raleigh Marriott City Center in Raleigh, N.C., for $83 million. The 400-room property will remain under management by Interstate Hotels & Resorts and is slated for a $6 million renovation. Read the GlobeSt.com story here.
SONIC Drive-In plans to open 14 new drive-ins in the greater Seattle market with a new franchise partner, Cascade Development Group. It is anticipated that the first drive-in will open fall of 2014 and the balance by 2018, joining the five existing SONIC locations in
Caribou Coffee‘s moves earlier this year to close 80 stores and rebrand 88 others as Peet’s Coffee & Tea will help to better position the brand to stand out and grow in the markets where it is already established. Read the Advertising Age story here.
Lodging Econometrics reports that hotel supply in 2015 will grow a moderate 1.6 percent, with 739 new hotel openings comprising 82,587 rooms. The hotel pipeline in mid-year 2013 shows a 4 percent growth year over year, with 350,151 new rooms in 2,822 hotel projects. Read
The lineup of outdoor retailers across Colorado’s Front Range will grow by two with this week’s opening of Cabela’s stores in Thornton and Lone Tree. The market already boasts rival Bass Pro Shops, which will soon open an additional two stores, as well as smaller
A $1.8 billion waterfront development was approved for $107 million in tax increment financing bonds by a Baltimore City Council committee over the objections of a number of protesters at City Hall. Several business and labor groups say the 27-acre mixed-use Harbor Point project will
Kimpton Hotels & Restaurants‘ planned resort in the Grand Cayman Islands marks the hospitality firm’s first step in expanding its resort portfolio internationally. In the United States, Kimpton’s resort pipeline is growing with a recent acquisition of a 100-room property in Sedona, Ariz., and development
The news that Lululemon Athletica CEO Christine Day plans to retire sent the yoga wear retailer’s stock price down, but analysts say it’s likely the Canada-based company is poised for a smooth transition when a new chief is named. The company is just beginning to
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