New York City — Electric Shuffle, an entertainment concept featuring high-tech shuffleboard, as well as food and beverages, will open a 10,000-square-foot venue on the second floor of Broadway and West 30th Street in Manhattan’s NoMad neighborhood. John Few of SRS Real Estate Partners represented Electric Shuffle in the lease negotiations. Richard Tang represented the landlord, The Lam Group, on an internal basis, with Adam Weinblatt of Newmark. The opening is scheduled for next spring.
New York City — VICI Properties Inc. has acquired 38 bowling entertainment centers from Bowlero Corp. in a sale-leaseback transaction for a total $432.9 million. Bowlero will now occupy the properties, which are located in 17 states, on a triple-net-lease basis. Initial annual rent for the lease will total $31.6 million. The deal also included an eight-year right of first offer term for VICI to purchase Bowlero real estate. J.P. Morgan acted as financial advisor to VICI in the transaction, and Hogan Lovells US LLP and Kramer Levin Naftalis & Frankel …
New York City — Club Pilates has signed a 3,500-square-foot lease in New York City. The brand has opened a fitness center on the ground floor of The Delegate, a condominium tower located in Manhattan. Club Pilates, an affiliate of Midtown East Fitness and a subsidiary of Xponential Fitness, currently operates more than 800 studios globally. Jack Resnick & Sons owns and operates the retail space at the property. Fran Delgorio and Brett Greenberg represented the landlord in the leasing negotiations on an internal basis, with Arial Schuster, Ross Berkowitz, Andrew …
Commack, N.Y. — PGA Superstore has opened a 39,225-square-foot store at Mayfair Shopping Center, a retail center located on Long Island in Commack. Hugh Scullin of Katz & Associates represented the tenant in leasing negotiations.
New York City — Marcus & Millichap has brokered the $11.7 million sale of a retail center located in Brooklyn in New York City. Totaling 26,260 square feet, the property was fully occupied at the time of sale by five ground-floor tenants, with a 12,000-square-foot A+ Kidz Academy occupying the second floor. 7-Eleven and Clean Rite anchor the property. Scott Plasky and Alexander Arustamian of Marcus & Millichap represented the undisclosed seller in the transaction.
New York City — New York City-based Vibrant Emotional Health, the administrator of 988 Lifeline, has partnered with shopping center owners in an initiative to increase awareness of emotional support services for individuals in distress. Installation of the signage, which will total 8,400 weather-resistant metal signs across 1,450 properties, began in September and is scheduled for completion by the end of 2024. Shopping center owners involved in the initiative include Brixmor Property Group, Kimco Realty, Kite Realty Group, Peterson Cos., Regency Centers, Sterling Organization and Urban Edge Properties.
Somers, N.Y. — CBRE has arranged the sale of a 68,842-square-foot single-tenant retail property located in Somers, roughly 40 miles north of Manhattan. Stop & Shop fully occupies the building, which is situated within Somers Commons, a 134,760-square-foot retail center. Jeffrey Dunne, David Gavin and Travis Langer of CBRE represented the seller, Ceruzzi Properties, in the transaction. CBRE also procured the buyer, an undisclosed institutional investor.
New York City — Four new tenants have opened at Kings Plaza in New York City. Target, Primark, Zara and Burlington have opened stores in a space formerly occupied by Sears at the enclosed mall, which totals 1.1 million square feet in Brooklyn. The landlord, Macerich, has implemented targeted renovations at the property.
Bay Shore, N.Y. — Nordstrom Rack, the off-price retail division of Nordstrom, will open a 24,000-square-foot store in Bay Shore, a hamlet on Long Island. Situated within Gardiner Manor Mall, the store is scheduled to open next spring. Other tenants at the property include HomeGoods, Barnes & Noble, Michaels and Old Navy. Kite Realty Group Trust is the landlord. This will mark the third Nordstrom Rack outpost in the state.
Minneapolis — The Target Corp. has announced plans to close nine stores in four states. Scheduled to close Oct. 21, the stores are located in New York City; Seattle; Portland, Oregon; San Francisco; and Oakland, California. In a statement, the brand attributed the closures to the fact that “theft and organized retail crime are threatening the safety of [its] team and guests and contributing to unsustainable business performance.”