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.
A 348-room, 12-story hotel from Netherlands-based citizenM is being added to the 27-acre Miami Worldcenter project. The 128,000-square-foot building is the third hotel citizenM has proposed in the Miami-Dade area over the past year. Read the Miami Herald story here
Stores, the National Retail Federation‘s magazine, ranked the 100 fastest-growing retailers in the United States. At the top of the list are Primark, Bass Pro Shops and Build.com, which bring in millions of dollars in sales annually. Read the Business Insider story here
A $452 million hospital expansion project in the San Antonio area has moved into the design phase. Construction will occur in four phases, and the first phase of the project will include construction of an endoscopy center and a parking garage. Read the KABB-TV story
After years of growth, hotel developers are being more selective about where they build. Read the Hotel News Now story here
The plans submitted by Brixmor Property Group for the redevelopment of University Mall in Davis, Calif., call for 174 residential units situated over 115,556 square feet of retail space. The project is being reviewed by the city. Read The Davis Enterprise story here
Hilton execs say that the Asia-Pacific region is experiencing a “golden age of travel,” and his company is responding with new developments. Hilton plans to open at least seven luxury properties in China over the next five years. Read the Jing Daily story here
The $3 billion American Dream Meadowlands, believed to be one of the most expensive retail projects in the world, is set to open in the spring The project will be 55% entertainment and 45% retail, and 30 and 40 million people are expected to visit
The first phase of Renaissance Marketplace in Rialto, Calif., has opened with six tenants. The 430,000-square-foot shopping center will include a Cinemark Theatres, 24 Hour Fitness and more than 26 additional tenants when developer Lewis Retail Centers fully opens it in September. Read the REBusinessOnline
Washington, D.C.-based Cava Group will acquire publicly traded Zoe’s Kitchen for $12.75 per share or about $300 million, the companies said. Investors including Act III Holdings, an investment firm led the founder of Panera Bread. Read the Reuters story here
Demand will outpace new supply among U.S. hotels, according to research by CBRE. On a broad national basis, the supply increases have been surpassed by lodging accommodation demand growth for the past eight years, and this trend is forecast to continue through 2019, CBRE reported. Read
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