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.
Residence Inn by Marriott and Value Place unveiled room prototypes for newly developed hotels. The Residence Inn recently debuted a room with upgrades revolving around the bathroom, workspace, and quality of the design and furnishings. Value Place focused more on operational efficiencies with its new rooms. Read
As Genting Group prepares to construct a resort at the formerly scrapped Echelon site, other construction in Las Vegas also is pointing to signs of hope for Sin City’s economy. Up to $2 billion will go into hotel-casino refurbishment on the Strip, and another $2.5
Home-improvement retailer Menards is opening several new super-sized stores in the Detroit area, hoping to take market share from industry giants Lowe’s and Home Depot. The new stores, which are about 240,000 square-feet, come with a hefty price tag, but the company believes they are
Facebook plans to break ground on a $1.5 billion data center in Altoona, Iowa, this summer. Construction of the 1.4-million-square-foot facility will likely be carried out in two phases. Meanwhile, Google plans to spend $400 million to enlarge its data center in Council Bluffs, Iowa.
Duane Reade has found a niche by offering an upscale experience in a neutral setting, complete with hologram floor greeters and digital makeup counters. The drugstore has seen a surge of popularity in recent years following a buyout by Walgreens, a series of store redesigns
Developers are preparing to break ground on a 123-room Hampton Inn & Suites hotel in Toledo, Ohio. The project will soon be followed by a 92-room Holiday Inn Express & Suites hotel at the same site. Read The (Toledo) Blade story here.
Inland American Real Estate Trust has acquired the Residence Inn by Marriott Denver City Center through a subsidiary. The purchase price was $80 million. Seller Sage Hospitality will continue to operate the 228-room property, according to HotelsMag.com.
A report released by Marcus & Millichap’s National Hospitality Group indicates that the surge in performance metrics and property transactions in the hotel industry could persist for a few more years. Read the GlobeSt.com story here.
Caesars Entertainment Corp. will spin off some of its operations into a new growth-oriented company, which is expected to raise as much as $1.2 billion from shareholder investments. Caesars Growth Partners already has received a combined pledge of $500 million from Caesars owners TPG Capital and
Pyramid Hotel Group has offered to acquire the main section of the landmark Hotel Syracuse in Syracuse, N.Y., with the intent to refurbish and reopen the property. Pyramid revealed plans to invest more than $60 million in renovations and to reopen the hotel with 260
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