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Jersey-Mikes
Company newsInvestment salesNew JerseyNewsRestaurants

Blackstone Agrees to Acquire Majority Ownership Position in Jersey Mike’s Subs

by Hayden Spiess

Manasquan, N.J. — Private equity funds managed by Blackstone have agreed to acquire a majority ownership position in Jersey Mike’s Subs. The deal would value the Manasquan-based sandwich restaurant chain at around $8 billion, including debt, according to The Wall Street Journal. Jersey Mike’s founder and CEO Peter Cancro will maintain a significant equity stake and continue to lead the business. Blackstone says the partnership is intended to help Jersey Mike’s accelerate its expansion across and beyond the U.S. market, as well as its continued investment in technology and digital transformation. New …

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LaCenterra-Cinco-Ranch_Katy-Texas
Company newsNewsTexas

Trademark to Manage Leasing at 412,900-Square-Foot Retail Center in Katy, Texas

by Hayden Spiess

Katy, Texas — Trademark Property Co. has been awarded the leasing assignment for LaCenterra at Cinco Ranch, a 412,900-square-foot retail center located in the Houston suburb of Katy. Current tenants at the property, which is situated within the Cinco Ranch master-planned community, include Trader Joe’s, Alamo Drafthouse Cinema, Athleta, CAVA, Lululemon, Lovesac, Warby Parker, Postino, Dish Society, Sephora, Starbucks Coffee, Pure Barre and Nando’s PERi-PERi. Daniel Goldware of Trademark will lead leasing at the center, which is managed by JLL. 

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Paul-Kurzawa
Company newsNewsTexas

Centennial Appoints Paul Kurzawa President

by Hayden Spiess

Dallas — Dallas-based retail real estate owner and operator Centennial has appointed Paul Kurzawa to serve as president of the company. Kurzawa has 25 years of experience in the industry, including tenures with The Blackstone Group, Equity Office Properties, Westfield Corp., Lend Lease Corp., General Property Trust and Caruso. He most recently served as chief operating officer of CenterCal Properties. Current president Whitney Livingston is departing to join the International Council of Shopping Centers (ICSC) as chief operating officer. In addition to its portfolio of owned shopping, dining, entertainment and mixed-use …

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Big-Lots-Inglewood-California-1
Company newsFinanceNew YorkNews

A&G Markets 255 Big Lots Store Leases For Sale

by Hayden Spiess

Melville, N.Y. — Melville-based A&G Real Estate Partners is accepting bids on 255 Big Lots store leases throughout the country as part of the retailer’s Chapter 11 restructuring. Of the leases, 51 are new to market. Big Lots initiated voluntary Chapter 11 bankruptcy proceedings Sept. 9 to facilitate a sale of substantially all of its assets and business operations. Ranging in size from 16,321 to 54,610 square feet, the leases are located across 41 states. Final bid deadlines for the leases, which A&G is offering in two groups, will be in …

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Company newsFinanceNewsRestaurantsTexas

TGI Fridays Files for Chapter 11 Bankruptcy

by Hayden Spiess

Dallas — TGI Fridays Inc., which owns and operates 39 U.S. restaurants, has voluntarily filed for Chapter 11 bankruptcy protection in the Northern District of Texas. The Dallas-based operator cited long-running declines in sales dating back to the pandemic as the main impetus behind the filing. All independently owned and operated franchise locations, both foreign and domestic, are unaffected by the filing. An entity doing business as TGI Fridays Franchisor LLC, which owns the TGI Fridays brand and other intellectual property, was also unaffected. TGI Fridays Inc. has secured a commitment …

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Company newsGeorgiaNewsRestaurants

Smalls Sliders Signs Four-Unit Franchise Deal in Georgia

by Hayden Spiess

Atlanta — Atlanta-based cheeseburger slider concept Smalls Sliders has signed a new, four-unit franchise agreement in Georgia. DPC Smalls Investments will own and operate the restaurants, with the first scheduled to open in 2025. DPC Smalls is considering locations including Albany, Valdosta, Tifton and Brunswick for the new units, all of which will open within the next five years. With the new agreement, the franchisee and Smalls Sliders will open a total of 20 restaurants, dubbed “Cans,” in Florida and Georgia. 

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Company newsFinanceMassachusettsNewsOhio

Gordon Brothers Provides $150 Million Debtor-in-Possession Financing to Big Lots

by Hayden Spiess

Boston — Boston-based Gordon Brothers has provided a $150 million debtor-in-possession (DIP) loan to Big Lots Inc. The financing will support the Columbus, Ohio-based company’s going-concern sale and stalking horse bid as it continues Chapter 11 bankruptcy proceedings. Gordon Brothers previously provided a $200 million delayed draw term loan to Big Lots. “As the liquidation agent for the non-go-forward store closures, distribution centers and furniture, fixtures and equipment, we will continue to support the company during the sale process,” says Kyle Shonak, senior managing director, transaction team and head of North …

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Company newsNewsRestaurantsTexas

Cousins Maine Lobster Signs New Franchise Agreement in Texas

by Hayden Spiess

Lubbock, Texas — Cousins Maine Lobster (CML) has signed a new, multi-unit deal with franchisees Chris Wilson and Gary Andrews of Lubbock. Wilson and Andrews currently own and operate six Slim Chickens restaurants throughout metro Lubbock and have launched their first CML food truck in the area, serving the markets of Amarillo, Midland, Odessa, Wichita and San Angelo. The grand opening was Oct. 26, at West End Shopping Center in Lubbock. “After six years of operating in Teas, we are thrilled to announce our expansion into West Texas,” says Angela Coppler, …

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Company newsFloridaLeasingNews

Nordstrom Rack to Open Two Stores Totaling 51,000 Square Feet in Florida

by Hayden Spiess

Melbourne and Sarasota, Fla. — Nordstrom Rack has announced plans to open two new stores in Florida. Located in Melbourne and Sarasota, the stores will comprise 24,000 and 27,000 square feet, respectively. The Melbourne store will be situated within The Avenue Viera and is scheduled to open next fall. Situated within Sarasota Pavilion, the Sarasota store is scheduled to open in spring 2026. InvenTrust Properties owns and manages Sarasota Pavilion, and WS Development owns and manages The Avenue Viera. 

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Company newsFinanceGrocery-anchoredNews

Slate Grocery REIT Secures $500 Million Refinancing 

by Hayden Spiess

Toronto — Slate Grocery REIT, a Toronto-based owner and operator of grocery-anchored retail properties in the United States, has entered into a $500 million credit facility agreement. The refinancing comprises a $275 million revolving credit facility and a $225 million term loan facility with maturity scheduled for January 2028. The REIT is also in negotiations with lenders to refinance an additional $138 million of upcoming debt maturities. “In today’s financing environment, our ability to refinance half a billion dollars of debt at such favorable economic terms reflects the strength and quality …

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