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.
Chipotle Mexican Grill has created a new concept called Chipotle NEXT Kitchen in New York City. The eatery will try out new restaurant technology and give the public its first taste of potential new menu items including queso, a dish customers have been clamoring for.
Seritage Growth Properties, a real estate venture led by Sears CEO Edward Lampert, is demolishing a Sears store at Tyrone Square Mall in St. Petersburg, Fla., and turning it into space for retailers, including Lucky’s Market, Petsmart and Dick’s Sporting Goods. It’s one of more
Italian luxury brand Fendi is expanding in the US, with stores opening in Dallas, New York City and San Francisco, according to Women’s Wear Daily. Fendi has 32 US stores and has been selling its goods online in the United States since 2015.
At the end of June, 130 hotel projects were under construction in California. The 17% increase over last year can be attributed to low financing costs and increasing sale prices of previously built hotels. Read The San Diego Union-Tribune story here
Developers will break ground next month on a publicly subsidized hotel near the Oregon Convention Center, finally fulfilling a plan discussed on and off for nearly three decades. Read The Oregonian story here
San Francisco has 4,685 hotel rooms in the pipeline, with occupancy hitting 85.5% last year. Five hotels will open in the city this year. Read The Business Journals/San Francisco story here story here
Hotel developers now have to work harder to find attractive markets for new properties. The hotel sector is performing, but it’s also experiencing the addition of thousands of new hotel rooms – nearly as many as were built during the last market peak. Developers planning
Axum Capital Partners, a private-equity firm co-founded by former Carolina Panthers player Muhsin Muhammad, has acquired a controlling stake in Tennessee-based Back Yard Burgers. Axum aims to speed growth of the chain, which currently operates 23 units and has 32 franchised locations. Read The Charlotte
Private-equity firm Roark Capital Group will acquire Jim ‘N Nick’s Bar-B-Q, a Birmingham, Ala.-based chain with 37 restaurants in seven states. It’s the 20th restaurant investment for Roark, whose portfolio also includes CKE Restaurants, Corner Bakery and Focus Brands. Read the Nation’s Restaurant News story
Walmart has signed a memorandum of understanding detailing plans to open 15 new wholesale stores in the Indian state of Maharashtra. The company has 21 of the cash-and-carry stores in India, including two in Maharashtra, and it plans to open 49 more across the country.
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