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.
Travelodge has unveiled a new design for its guestrooms, which it plans to incorporate in all of its upcoming hotel properties. The company is looking to convert more than 80% of its existing room supply to the new design by autumn 2014. Read the HotelsMag.com
Apple has successfully trademarked its retail store design. The trademark, granted last week, covers the distinctive clear-glass storefront as well as interior features including the Genius Bar. Read the Los Angeles Times story here.
If regulators approve a request by Consolidated Edison Co. of New York, the utility will spend $1 billion over four years to make its equipment better able to withstand severe storms. A rate increase was also requested. Work would include “strategic undergrounding and flood protection
Several types of solar technology will be installed at the $1.2 billion new stadium for the San Francisco 49ers in Santa Clara, Calif. Enough will be installed to make the stadium “the first professional sports venue in California to achieve net zero energy performance,” according
Data released by STR indicate that revenue per available room at U.S. hotels rose 6.5 percent in the fourth quarter. Average daily rate during the same period increased by 4 percent, while occupancy was up 2.4 perecent. Read the TravelPulse story here.
Real estate company Southwest Value Partners has acquired the InterContinental New Orleans hotel. The new owner plans to renovate the 479-room property, which will remain under the Intercontinental Hotels brand. Read the Times-Picayune story here.
Blackstone Group is negotiating for a loan of approximately $450 million, which it will use to refinance debt on the Hotel del Coronado in California. The real estate firm is likely taking advantage of low lending interest rates. Read the Bloomberg Businessweek story here.
Continued labor market concerns and stagnant income growth are among the chief factors contributing to a subdued forecast released by the National Retail Federation (NRF). NRF’s 2013 economic forecast projects retail industry sales (excluding automobiles, gas stations and restaurants) will increase 3.4 percent, slightly less
Nine Target stores in the Detroit area are being remodeled to include a larger grocery section, which includes fresh food. The retailer has been adding or expanding grocery sections nationwide. Read the Detroit Free Press story here.
Dollar General plans to add 635 locations and pass the 11,000-store mark later this year. The discount retailer expects to add about 6,000 new jobs, bringing the total number of positions created in the past six years to 30,000. Read the Columbus Dispatch story here.
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