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.
Dunkin’ Brands plans to end 2012 with 280 to 300 additional stores in the United States and 720 new locations worldwide. Much of the U.S. development is focused on the West, but there is room for about 3,000 new locations east of the Mississippi River
IKEA wants to grow. According to The Wall Street Journal, the retailer plans to increase its store count to around 500 by 2020. It currently operates about 300 stores. In addition, IKEA said that by the end of fiscal 2020 it plans to quadruple sales
Stein Mart is expanding its presence with the opening of seven stores this fall,including four new and three relocated units. Locations include Surprise, Ariz.; Katy, Texas; Tucson, Ariz.; Charlottesville, Va; McAllen, Texas; Biloxi, Miss.; and San Dimas, Calif. Stein Mart operates 263 stores.
InterContinental Hotels Group has announced that it has signed an agreement with ownership firm CWC to build its flagship Even hotel in New York. The new brand features a fitness theme and will offer room designs that allow for in-room workouts, fitness centers with high-end
As more U.S. businesses go solar, IKEA says it will rely on the sun and wind to produce all the power it uses at its stores and buildings worldwide within a decade. The retailer plans to install more rooftop solar panels, erect wind farms and
Midscale hotels enjoyed favorable performance over the past few months because of minimal supply growth. Occupancy in the midscale segment reached 56.7 percent year-to-date through August, while average daily rate was at $75. Read the HotelNewsNow.com story here.
U.S. hoteliers will put about $5 billion into capital expenditures this year, according to a report by the New York University School of Continuing and Professional Studies. The expected spending is up 33 percent over last year’s figures and 85 percent over spending in 2010.
A Times Square development site in New York City traded for $430 million. The buyers are the Witkoff Group, an investment unit of Vector Group LTD, Maefield Development, Infinity Urban Century and Winthrop Realty Trust. The new owners plan to build a 10-story, 130,000-square-foot retail
Corner Bakery Café plans to open at least 47 restaurants in the Portland, Ore., Minneapolis-St.Paul and Orlando, Fla., markets – a move that would double its footprint in the United States over the next four years. The growth will be accomplished primarily through franchising. The targeted
Tanger Outlets will open a location in North Carolina with 90 retailers. The Charlotte-based project will debut in 2014, representing an $80 million investment for the REIT. Read the News & Observer story here.
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