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.
More hotels are offering extended-stay options to guests, and guests are responding as demand is keeping up with the growing supply. Read The Real Deal online story here
It’s a historic downtown Sacramento hotel that’s been an eyesore for years. But now the old Hotel Marshall is about to get a major makeover. It’s been a long time coming, but finally some real progress for the future of this century-old structure. Read the
A subsidiary of Choice Hotels International has teamed up with a Mexican private equity fund to build 20 Sleep Inn hotels in the next five years. Read the Hotel Management online story here
In its latest bi-annual Global Construction Pipeline Trend Report, Lodging Econometrics said that the number of hotel projects in the works around the world is at an all-time high, up 86% since 2011. Read the Construction Dive story here
Sterling Heights, Mich., is working with developers to redesign Lakeside Mall, a 1.5 million-square-foot property, to create a downtown-esque space for the city. Two proposals are being considered: In one, the enclosed space would remain as the property is converted into a mixed-use space; the
With a 40% occupancy rate, the 527,000-square-foot Northfield Square retail center in Bradley, Ill., could be renovated into a mixed-use space, depending on what local government decides. The owner, Namdar Realty Group, will meet with officials this week to discuss potential plans for redevelopment. Read
Blackstone is seeking a buyer for 29 hotels in Germany and the Netherlands, according to sources. It has tapped Eastdil Secured and Jones Lang LaSalle to market the 3,350-key portfolio, which could trade for as much as $462 million, the sources say. Read the Bloomberg
Every so often, there’s a slight pause in foot traffic where Patton and Biltmore avenues meet. If only for a moment, some crane their necks upward for a peek at the tallest point of Asheville’s tallest building. Read the Asheville Citizen-Times story here
Omni Hotels has opened properties in Texas, Kentucky and Atlanta over the past year-plus, bringing its portfolio to 55 hotels. Unlike larger chains, Omni fully or partially owns almost all of its properties. Read the Meetings & Conventions online story here
At Los Angeles-based Kitchen United, six restaurant startups are sharing commercial kitchen space to lessen the cost of space, services and labor. Customers can order food for delivery or pickup, and a small storefront area includes a kiosk for on-site ordering. Read the FastCasual story
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