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.
Canada-based Cara Operations will acquire Keg Restaurants in a cash and stock deal valued at $161.4 million. Cara is Canada’s largest full-service operator, with 1,259 company-owned and franchised units under 16 banners including Harvey’s and Swiss Chalet and Keg operates 96 eateries in Canada and 10
A 114-year-old hotel in downtown Buffalo, N.Y. that fell on hard times has been restored to its French Renaissance splendor with no skimping on amenities. Developer Rocco Termini has spent $40 million on renovation since buying the Lafayette Hotel in 2009 and renaming it The
Following its rejection of MGM Growth Properties‘ merger offer, VICI Properties has launched an initial public offering that could be worth more than $1 billion, with 50 million shares priced between $19 and $21 per unit. Proceeds would go toward debt payments and general corporate
Sonoma County, Calif., hotel revenues reached a record $309.8 million last year, more than doubling since 2009, STR reports. The peak was reached even as three hotels burned in the October wildfires, and the remaining properties were occupied by displaced residents seeking temporary shelter. Read
Convenience store retailer 7-Eleven has closed on its $3.3 billion purchase of 1,030 c-stores in 17 states from Sunoco, according to The Dallas Morning News. Irving, Texas-based 7-Eleven now has 9,700 stores in the U.S. and Canada.
Toys R Us aims to close about 180 US stores starting next month, as part of its bankruptcy reorganization. The closure plan, which would account for about one-fifth of the retailer’s U.S. stores, will require court approval. Read the CNBC story here
Real estate investors have grabbed a downtown San Jose property that’s expected to be developed as a high-rise hotel, providing a lodging site next to the planned Google transit village. Read the San Jose Mercury story here
The Sydell Group has announced the arrival of the Line Hotel, Washington, DC. The 220-room property mirrors the principles of the brand’s flagship in Los Angeles thanks to a design conceived in collaboration with New York-based firm INC Architecture & Design. Read the Hospitality Design
California’s Sonoma County attracts millions of visitors every year. And as of spring 2020, they’ll have a new place to lie their heads after a busy day of wine tasting, according to luxury hotelier Montage Hotels & Resorts, which last week announced plans to open
A new rendering of the Bronx Point project on the Harlem River waterfront includes 1,045 housing units to be produced in two phases, beginning with 600 affordable units due in 2022. Other areas provide for retail and include as much as 60,000 feet of amenity
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