New York City — A&G Real Estate Partners will auction over 250 Tuesday Morning Corp. leases as part of the first round of store closures in the retailer’s Chapter 11 reorganization. Ranging in size from 6,000 to 28,000 square feet, the spaces being auctioned are situated in freestanding sites and retail centers. Many of the leases have five or more years remaining on the term. “The early interest reflects the fact that it’s rare to see so many good quality locations become available in major markets,” says Mike Matlat, senior …
Pittsburgh — Dick’s Sporting Goods (NYSE: DKS) plans to open as many as 75 to 100 new House of Sport stores over the next five years, according to Lauren Hobart, CEO of the Pittsburgh-based retailer. House of Sports is a retail concept that provides interaction and experiences including putting greens, rock walls, batting cages and turf baseball fields, along with sports-related apparel and equipment for sale. There are currently three House of Sports stores in Rochester, New York; Knoxville, Tennessee; and Minnetonka, Minnesota. “House of Sport will be a significant …
New York City — A&G Real Estate Partners will auction eight Party City leases in its capacity as real estate advisor to the retailer. These leases — which include locations in Georgia, Iowa, Illinois, Louisiana, Michigan, New York, Texas and West Virginia — come in addition to 12 Party City leases announced for auction by A&G in late February. Ranging in size from 7,500 to 28,000 square feet, 18 total leases remain open. This move is part of Party City Holdco Inc. (PCHI)’s financial restructuring, which is expected to be …
Virginia Beach, Va. — Divaris Real Estate has acquired The McGarey Group, which specializes in mixed-use retail development, leasing and advisory services. McGarey Group will operate as a division of Divaris moving forward, with its team retaining their current roles. Denver McGarey, who has 40 years of industry experience, leads The McGarey Group, which has been involved in projects totaling 41 million square feet across the U.S., China and Japan. “Denver and his team have ambitious work ethic, unwavering commitment to integrity and an impressive track record of delivering exceptional …
Los Angeles — Westwood Financial, a retail real estate investment firm, has promoted Lauren Ball and Juyuan Wei to the company’s C-suite. Ball will take on the role of chief operating officer, with Wei appointed chief financial officer. Ball and Wei joined the Los Angeles-based company in 2021 and 2018, respectively, previously serving as senior vice president and head of leasing and senior vice president of finance and accounting. The two will support Chief Executive Officer Mark Bratt. “A good portion of our ongoing success is due to these leaders’ …
Dallas — Corner Bakery, a national restaurant chain based in Dallas, has filed for Chapter 11 protection in the Delaware Bankruptcy Court after defaulting on its loans last year, according to The Dallas Morning News. Pandya Restaurant Growth Brands purchased Corner Bakery, which currently operates 140 locations in 20 states, in October 2020. Prior to its acquisition by Pandya, the chain was owned by private equity firm Roark Capital Partner.
Pittsburgh — Dick’s Sporting Goods has agreed to acquire outdoor retailer Moosejaw from Walmart. Founded in 1992, Moosejaw operates brick-and-mortar locations in Arkansas, Colorado, Illinois, Kansas, Michigan and Missouri, in addition to its e-commerce platform. “We believe there’s potential to grow the Moosejaw business and provide compelling experiences and an expanded product assortment to its millions of loyal customers,” says Todd Spaletto, senior vice president of Dick’s and president of the company’s specialty outdoor retailer, Public Lands. Moosejaw CEO Eoin Comerford will stay on following the acquisition, reporting to Spaletto. …
Lewisville, Texas — Property services company MCS has acquired Chain Store Maintenance (CSM), a commercial facilities services firm. MCS will offer the core interior maintenance services that CSM is known for, with a platform marketed as Chain Store Maintenance — an MCS Company. Exterior facility services will continue to be marketed under MCS. Founded in 1991, CSM currently has agreements to provide facilities services to more than 130,000 client locations in the U.S., Canada, Puerto Rico and Guam. Core offerings include handyman, electrical, locksmith and plumbing services.
Santa Monica, Calif. — Chipotle Mexican Grill Inc. has announced the launch of a new restaurant concept, which will be opening in a ghost kitchen space in Santa Monica. Dubbed Farmesa, the restaurant will open at Third Street Promenade in partnership with Kitchen United Mix. A soft opening is planned, which will feature an abbreviated menu and limited hours, before the official launch next month. Guests will be able to order via onsite kiosks, online at the Kitchen United website and via third-party apps including DoorDash and UberEats. According to …
Union, N.J. — Bed Bath & Beyond has announced the locations of 87 flagship stores it plans to close across the country. These closures come in addition to the 150 stores announced for closure in August. The Union, New Jersey-based company will also shutter 48 Harmon drugstores as well as five Buybuy Baby stores. Bed Bath & Beyond missed interest payments on its bonds last week, according to reports by The Wall Street Journal. This came one week after a default notice for overdrawing on credit lines was sent to …