Paris, France — Paris-based retail center owner and operator Unibail-Rodamco-Westfield (URW) and TOCA Football have announced a partnership to open multiple eatertainment venues throughout Europe. The first of the new TOCA Socials will open at Westfield London and Westfield CNIT in La Défense in Paris in 2025. The venues will occupy 37,620 and 25,833 square feet, respectively. The partnership will include additional, yet-to-be-announced locations. TOCA Social venues feature immersive soccer-based gaming, as well as food and beverages. In London, the brand currently operates at The O2.
Chesapeake, Va. — Dollar Tree Inc. has acquired designation rights for 170 leases of 99 Cents Only Stores, following the latter’s Chapter 11 bankruptcy filing. 99 Cents Only Stores filed for bankruptcy in April and is disposing of its assets — including inventory, owned real estate and store leases — as part of the process. Dollar Tree acquired the leases, as well as the North American intellectual property of 99 Cents and select onsite furniture, fixtures and equipment, in two separate transactions this month. “This was an attractive opportunity to secure …
Melville, N.Y. — New York-based A&G Real Estate Partners has announced plans to market 27 store leases in 12 states on behalf of music retailer Sam Ash Music Corp., which recently filed for Chapter 11 bankruptcy protection in New Jersey. Sam Ash’s total portfolio comprises 42 stores in 16 states, all of which will be closed while the company entertains buyer offers and completes its financial restructuring. Averaging 25,467 square feet, the lease sizes range from 6,000 to 44,000 square feet.
Kill Devil Hills, N.C. — Wawa Inc. has opened its first gas station and convenience store in the state of North Carolina. Located in Kill Devil Hills, the store is the first of 10 Wawa locations scheduled to open in the state by the end of 2024. Stores will be located in Rocky Mount, Elizabeth City, Greenville, Wilson and Goldsboro. Additionally, Wawa plans to open up to 11 stores in 2025, in counties including Robeson, Pitt, Cumberland, Onslow, Johnston, Nash, Pender, Brunswick and New Hanover. Over the next eight to 10 …
Orlando, Fla. — Red Lobster has voluntarily filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Middle District of Florida. The Orlando-based seafood restaurant chain plans to sell its business to an entity formed and controlled by its existing lenders. Red Lobster, which was founded in 1968 and operates some 600 restaurants across North America, has received a $100 million debtor-in-possession financing commitment from its existing lenders to facilitate this plan. The company stated that it would use the financing and bankruptcy proceedings to drive operational improvements, …
New York City — Michael Carroll and John Hayes have joined New York City-based RD Management LLC, a property owner and operator with a portfolio comprising more than 170 properties throughout the continental U.S. and Puerto Rico. RD has appointed Carroll and Hayes to the roles of co-chief executive officer and chief financial officer, respectively. Richard Birdoff, who has been with RD for more than 30 years, will serve as co-CEO and executive chairman moving forward. Carroll’s previous experience includes founding ShopOne Centers REIT in 2017 and serving as CEO of …
Fayetteville, Ark. — Arkansas-based fast-casual brand Slim Chickens has signed a franchise deal for 12 units in the state of Pennsylvania. Plans include the addition of restaurants in the counties of Lancaster, Lebanon, Dauphin, York, Cumberland, Centre, Franklin, Mifflin, Juniata, Perry and Adams. PSMMSM PA Ventures, also a Dunkin’ Donuts franchisee, will own and operate the new units.
Chicago — Retail brokerage firms Segovia Partners and Braden Real Estate have announced plans to merge. Marc Offit heads Braden Real Estate, which features offices in Chicago and Florida. Jennifer Frank and Jack Breard lead Dallas-based Segovia Partners. Offit will remain managing broker for the Illinois and Florida brokerage teams, with Courtney Waldon appointed president of the Chicago office. Segovia plans to add a senior team member to run the West Coast of Florida office. Additionally, Tim Gearhart will join the Segovia Partners Chicago office as a principal, focusing on national …
Warrendale, Pa. — Rue21, an apparel and accessories retailer based in the Pittsburgh area, has filed for bankruptcy and will close all its stores in the coming months, according to reports from multiple news organizations such as CNN, Reuters and The Business Journals. All three of those media outlets report that this is the third bankruptcy filing in the history of Rue21, which operates about 540 stores nationwide, down from more than 1,000 at the height of its existence. Following Rue21’s 2017 bankruptcy filing, the company closed some 400 stores. The retailer also shed about …
Atlanta — Atlanta-based fast-casual cheeseburger brand Smalls Sliders has signed two multi-unit franchise deals in the state of Florida. An entity doing business as DPC Smalls Investments, which is led by Doug Cone, will own and operate the 12 new restaurants, known as “Cans.” Locations for the new Cans will include Jacksonville, Tallahassee, St. Augustine, Lake City and Orange Park, with the first unit scheduled to open early next year.