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Jamestown to Acquire Atlanta Subsidiary of North American Properties, Including $2B Real Estate Portfolio

by Hayden Spiess

Atlanta — Jamestown, a real estate development, investment and management firm based in Atlanta, has announced plans to purchase the Atlanta-based subsidiary of North American Properties (NAP), a prominent mixed-use developer and operator based in Cincinnati. Terms of the acquisition were not disclosed, but NAP’s Atlanta office had $2 billion in assets under management (AUM) as of June 30, 2024. That portfolio includes nine mixed-use destinations across six states on the East Coast. As part of the transaction, a Jamestown affiliate will make an investment in the platform’s portfolio comprising Colony …

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Company newsFloridaNewsRestaurants

Buca di Beppo Files for Chapter 11 Bankruptcy

by Hayden Spiess

Orlando, Fla. — Orlando-based Italian dining chain Buca di Beppo has voluntarily filed for bankruptcy under Chapter 11 of the U.S. Bankruptcy Code. The restructuring will involve 44 core restaurants, as well as a new store currently being opened. According to a press release issued by the company, it is “committed to ensuring that the restaurants operate as usual.” Gray Reed & McGraw LLP is serving as legal advisor, and CR3 Partners LLC is acting as financial advisor, as well as providing corporate leadership as the chief restructuring officer. Stout Capital …

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Company newsGeorgiaLeasingNewsRestaurants

Knuckies Hoagies Announces Partnership with Walmart

by Hayden Spiess

Milton, Ga. — Knuckies Hoagies, a sandwich concept founded in Milton in 2019, has announced a new partnership with Walmart. The brand has executed leases to open restaurants within 14 Walmart stores across six states, including Georgia, South Carolina, North Carolina, Oklahoma and Texas. According to a press release issued by the Knuckies Franchise Co., the partnership offers “a built-in customer base and prime locations.” 

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Company newsIllinoisInvestment salesNews

Hilco Acquires Hanes’ Brick and Mortar Store Operations

by Hayden Spiess

Northbrook, Ill. — Hilco Consumer-Retail (HCR) has completed the acquisition of operations for Hanes Outlet and Maidenform stores. HCR plans to leverage its RevUp program, which implements virtual store management with retail experts, at the stores. “We are thrilled that Hanes selected us to continue their retail brick and mortar operations, and we are excited to hit the ground running with the dedicated store teams,” says Ian Fredericks, president and chief executive officer of HCR. 

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Honey Baked Ham Co. Signs Four-Unit Franchise Deal in Massachusetts, Rhode Island

by Hayden Spiess

Alpharetta, Ga. — Metro Atlanta-based Honey Baked Ham Co. has signed a four-unit franchise deal in the Northeast. Locations will include Worcester, Massachusetts, as well as elsewhere in the state and an additional location in Rhode Island. Tom McGwire, great-grandson of the brand’s founder, will own and operate the units, along with his father Tad McGwire and brothers Charlie and Brett McGwire. This will bring Tom McGwire’s Honey Baked Ham portfolio to eight stores, following a previous deal to develop four stores across Connecticut, Rhode Island and Massachusetts. 

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Company newsFloridaLeasingNews

Daiso to Open First Store in Florida

by Hayden Spiess

Tampa, Fla. — Japanese variety retailer Daiso has announced plans to open its first Florida Store in Tampa. Scheduled to open in the first quarter of 2025, the store will be situated within Northdale Promenade.  David Eggnatz of Katz & Associates represented Daiso, in the leasing negotiations. Brian Hector represented the landlord, Kite Realty, on an internal basis. Daiso is currently seeking additional sites throughout Florida ranging in size from 7,000 to 12,000 square feet.

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Conn’s HomePlus Files for Chapter 11 Bankruptcy, to Close 70-Plus Stores According to Reports

by Hayden Spiess

The Woodlands, Texas — Conn’s HomePlus, a Texas-based home furnishing retailer, has filed for Chapter 11 bankruptcy and will close at least 70 stores nationwide, according to reports from multiple media outlets including CNN and USA Today. The latter publication reports that Conn’s filed for bankruptcy protection this past Tuesday in the U.S. Bankruptcy Court for the Southern District of Texas amid slumping revenue reports. The impacted stores are located throughout 13 states, according to CNN. Both news organizations report that the state with the highest concentration of closures is Florida (18), followed by Texas …

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Company newsNewsRestaurantsVirginia

Chicken Salad Chick Plans Eight Restaurants in Metro Washington, D.C. 

by Hayden Spiess

Falls Church, Va. — Chicken salad restaurant concept Chicken Salad Chick has opened a new restaurant in Falls Church, a suburb of Washington, D.C. The first of eight units planned in the Northern Virginia suburbs of D.C., this marks the brand’s first entry into the market. Franchisee Devon Chamberlin will own and operate the units, with the next restaurant to be opened in Fairfax. 

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Darden Restaurants Agrees to Acquire Tex-Mex Chain Chuy’s for $605 Million

by Hayden Spiess

Austin, Texas and Orlando, Fla. — Darden Restaurants (NYSE: DRI) has agreed to acquire Chuy’s Holdings (NASDAQ: CHUY) for $605 million in an all-cash transaction.  The Tex-Mex restaurant chain — which owns and operates 101 full-service restaurants across 15 states — will join Darden’s existing restaurant portfolio, which includes Olive Garden, LongHorn Steakhouse and Ruth’s Chris Steak House, among others.  Under terms of the merger agreement, Orlando-based Darden will acquire all outstanding shares of Chuy’s at $37.50 per share. The purchase price represents a 40 percent premium to the Austin-based company’s …

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