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.
Limited-service chains saw sales grow in 2016, and they’re on track to rise around 4.9% in the new year, according to Technomic. Fast-casual is still one of the industry’s fastest growing categories, and quickservice chains are also expected to see modest growth that will help
Kate Spade & Co. has teamed with financial advisors to prepare for a sale in January, sources said. Six companies, the majority of which are retailers, have already expressed interest in bidding on Kate Spade, which is valued at about $2.3 billion, according to the
Restaurant chains including Marco’s Pizza, Dunkin’ Donuts, Tim Hortons and Chick-fil-A are in growth mode in Minnesota’s Twin Cities market. Marco’s, which operates in 35 states, is seeking franchisees in Minnesota with the goal of growing from three units in the area to 60 in
Demolition and redevelopment are coming to the mostly vacant Valley View Mall in North Dallas. Plans include a hotel, apartments, retail space, a 5-acre park, restaurants and offices, according to The Dallas Morning News.
The National WWII Museum has decided to build a new $41 million, 234-room hotel and conference center in New Orleans. Visitors have been asking for an on-site hotel for years, and it is especially important considering that almost 85% of the museum’s visitors come from
The $25 million Cyrus Hotel project has broken ground in Topeka, Kan. The 109-key property is expected to open in the summer of 2018. Read The Topeka Capital-Journal story here
New York-based Miraval Group has added Travaasa Austin Resort to a growth agenda that includes resorts in California and Massachusetts. The Texas property, acquired from an Amstar Group subsidiary, will be renamed Miraval Austin following the development and renovation process. Read the Commercial Property Executive
Sears plans to close more than 30 of its Sears and Kmart stores early next year, with most liquidation sales beginning Jan. 6 and closures happening between March and April, the company told employees Tuesday. The announcement comes on the heels of 10% and 4.4%
An eight-story luxury spa and hotel is set to open next month along the Hudson River in Edgewater, N.J. Outdoor hot tubs, specialty pools and seven sauna rooms are featured in the facility, said to have cost more than $30 million. Read the NJ.com story
Hilton Hotels & Resorts will bring its Curio Collection to Washington, D.C., with the conversion of a DoubleTree Hotel to The Darcy. The 226-room boutique hotel six blocks from the White House will include a new restaurant, The Siren. Read the Commercial Property Executive story
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