Dartmouth, Mass. — PREIT has signed leases with five new tenants at Dartmouth Mall, a 671,000-square-foot regional mall in Dartmouth. Western and work wear retailer Boot Barn will open a 15,000-square-foot store this fall as its first location in the area. Locker Room by Lids expects to open at the end of the month, while Chick-fil-A plans to open as an outparcel at the property later this year. Cinnabon and Carvel have already opened. These additions follow the redevelopment of the former Sears space, which is now occupied by Ulta Beauty …
Richmond, Va. — Richmond, Virginia-based Lucky Strike Entertainment, operator of bowling alleys and entertainment venues, has purchased 58 of its existing locations for $306 million. The deal aims to reduce annual rent obligations, while eliminating the risk of future lease inflation, say company representatives. Lucky Strike will continue to operate each of the locations after the deal closes. The transaction was financed through a $230 million bridge facility under Lucky Strike’s revolving credit line, as well as cash on hand. Spanning 16 states, the 58-property portfolio includes locations in California, …
Los Angeles — Beverly Hills, California-based FAT Brands Inc., parent company of Fatburger and 17 other restaurant concepts, has signed a new development deal with existing franchisee Whole Factor Inc., to open 40 additional Fatburger locations across Florida over the next 10 years. Since 2021, the fast-casual hamburger chain has expanded into the Orlando and Tampa areas with a 14-unit development deal, opening the newest restaurant locations in Riverview and Celebration. FAT Brands currently owns and franchises more than 2,300 units worldwide.
Keene, N.H. and Grand Rapids, Mich. — C&S Wholesale Grocers, a New Hampshire-based food supplier whose brands include Piggly Wiggly and Grand Union, has agreed to acquire Michigan-based SpartanNash, owner of brands such as Our Family and Full Circle Market, in a merger valued at nearly $1.8 billion. The figure represents a purchase price of $26.90 per share of SpartanNash common stock in cash and includes the assumption of SpartanNash’s existing debt. The price marks a 52.5 percent premium over the company’s closing price of $17.64 per share on June …
Cincinnati — The Kroger Co. has unveiled plans to close approximately 60 stores over the next 18 months. The closures represent about 5 percent of the Cincinnati-based grocer’s stores. Kroger says it is taking a $100 million impairment charge related to the store closings and is committed to reinvesting the savings back into the customer experience. As a result, Kroger says the closures will not impact its full-year guidance. The retailer will offer roles in other stores to all associates currently employed at affected stores. The grocer operates roughly 1,200 …
Bowling Green, Ky. — Dallas-based Centennial has been selected to provide management and leasing services for Greenwood Mall, an 851,576-square-foot regional mall in Bowling Green. Greenwood Mall, which is currently in receivership, will remain open and operational throughout the management transition. Greenwood Mall features more than 80 tenants such as Dillard’s, JCPenney, Belk, American Eagle, Bath & Body Works, Hibbett Sports, Victoria’s Secret, Suki Hana Japan, Subway, Sbarro, Auntie Anne’s and Cinnabon, as well as a 12-screen Regal Cinemas movie theater. Centennial currently operates 23 million square feet of mixed-use developments …
California — Vestar has been selected to provide management services for a 600,000-square-foot retail portfolio in Southern California. The portfolio comprises five grocery-anchored shopping centers including Campus Marketplace in San Marcos, The Pavilion at La Quinta in La Quinta, River Oaks Shopping Center in Santa Clarita, Bear Creek Village in Wildomar and Old Grove Marketplace in Oceanside. Vestar will manage the portfolio on behalf of Nuveen Real Estate, who recently acquired the properties. Vestar’s Southern California management portfolio now totals more than 8.5 million square feet.
Louisville, Ky. — Mexican-American quick-service restaurant chain Del Taco has signed a franchise agreement to open five new units in Louisville. Local restaurant operator Karan Pandher will lead the development and management of all five Del Taco restaurants. The new restaurants will include a refreshed layout and design, featuring dual drive-thru lanes and pickup lockers for orders placed via the Del Taco app or third-party food providers. This franchise agreement marks Del Taco’s entry into Louisville. The exact locations for the new restaurants haven’t been confirmed, but the brand anticipates the …
Irvine, Calif. — Irvine-based Mountain Mike’s Pizza has signed a franchise agreement to open three new locations in Northern Virginia, marking the chain’s introduction to the state. Following its 10-unit development deal in Florida, this agreement brings Mountain Mike’s Pizza to 13 total units slated for the East Coast. The new Virginia restaurants will be developed by local franchisee Niraj Hemrajani, a multi-brand operator with a portfolio of established restaurant concepts including Cold Stone Creamery, Popeyes and Subway. The fast-casual pizza concept currently operates restaurants in Arizona, California, Colorado, …
Bel Air, Md. — SJC Ventures has unveiled plans for a $100 million transformation of the Harford Mall site located in Bel Air, roughly 23 miles north of Baltimore. Upon approval by the Bel Air Economic and Community Development Commission, the redevelopment project will feature 48,000 square feet of retail, restaurants and amenities that will replace a former Macy’s store, as well as a 35,000-square-foot grocery store. SJC also plans to incorporate pedestrian walkways for enhanced connectivity, pocket parks and open gathering spaces. CBL Properties owns Harford Mall, which originally opened …
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