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.
Developers are seeking permission from Orange County, Fla., to build an International Hotels Group property near Walt Disney World’s Port Orleans Resort. Lake Buena Vista Investments is behind the project to develop the extended-stay Candlewood Suites. Read The Business Journals/Orlando, Fla., story here
Yum Brands announced yesterday that it will sell thousands of its restaurants to franchisees, reducing its number of company-owned locations from 10,000 to less than 1,000 by the end of 2018. Read the USA Today story here
A Sam’s Club prototype store selling higher-end meats and boasting a significantly larger deli and prepared foods section has increased sales and may be the model for future locations. The retailer will invest most of next year’s $700 million capital budget on remodeling stores. Read
Thai Union Group paid $575 million to acquire a 25% stake in Red Lobster Seafood Restaurants, with an option to acquire another 24%. Known for its Chicken of the Sea tuna brand, the Thai company supplies food to Red Lobster, Wal-Mart and Costco and expects
Luxury hotel expansion in New Zealand is expected to accelerate with the news that The Ritz-Carlton plans a debut there. Tourism growth led by the quadrupling of Chinese visitors in the past decade has made New Zealand a hot spot for Western and Asian brands.
A 74-room hotel is coming to Minnesota’s Running Aces Casino & Racetrack in Columbus. The casino plans to build the GrandStay-branded property to better compete with more popular attractions further south. Read the Star Tribune story here
A 500-acre mixed-use development worth $1.2 billion is being planned near the village of Boys Town in West Omaha, Neb. The project will be anchored by a division of Berkshire Hathaway and include houses, apartments, retail space and a hotel. Read the Omaha World-Herald story
Developers want to turn the deserted Candler Mansion in Atlanta into a boutique hotel. The property, which has some 50 guest cabins, could open as early as 2018. Read the Curbed/Atlanta story here
Alabama-based Chicken Salad Chick and recent Commecial Kitchen cover story has grown to more than 60 establishments in the Southeast U.S. and earned the 37th position on the Inc. 500/5000 list, which names the fastest-growing businesses in the country. The restaurant plans to add six more
Marriott International plans to build five new hotels in South Africa for $218 million. The nation’s growing middle class has spurred the developments in Cape Town and Johannesburg. Read the Reuters story here
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