Secured strategic real estate broker agreement
with Newmark, a world leader in commercial real estate, to further
capitalize on real estate opportunities
Experiential dining and entertainment brand
continues to execute its rollout strategy with seventeen venues
currently open, two set to open in the coming months, and four
additional announced sites to open in 2024/2025
Pinstripes Holdings, Inc. (“Pinstripes” or “the Company”) (NYSE:
PNST), a best-in-class experiential dining and entertainment brand
combining bistro, bowling, bocce and private event space, today
announced the signing of a new Master Broker agreement with
Newmark. Newmark will act as Pinstripes’ exclusive Master Broker
throughout the U.S. and overseas, in conjunction with Pinstripes’
preexisting network of local brokers across the country.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20240507482718/en/
Pinstripes’ newest location in Orlando,
Florida, opened in Vineland Point on April 20th, 2024. (Photo:
Business Wire)
“Pinstripes remains focused on executing our rollout strategy in
the U.S. with our winning combination of exceptional cuisine and
bowling/bocce,” said Dale Schwartz, CEO and Founder of Pinstripes.
“We are augmenting our expansion efforts by working with Rob Cohen,
Jeremy Ezra and their Newmark team, and this partnership will
improve our ability to expand into new markets. In addition, we
also want to thank Larry Leon of Retail Union for his eighteen
years as our previous Master Broker.”
The Newmark partnership will enable the Company to capitalize on
its exciting real estate opportunities. Newmark’s access to sites
and developers throughout the country will further accelerate
Pinstripes’ development efforts.
“Newmark has a unique ability to partner with Pinstripes and
tailor its expansion efforts to select markets, and we’ll
incorporate strong analytics and market intelligence to strike the
right deals at the right time,” stated Rob Cohen, Vice Chairman of
Newmark. “We’re honored to work with an iconic, experiential brand
like Pinstripes, and we look forward to working with developers and
landlords to achieve the Company’s long-term goal of at least 150
locations in the United States and beyond,” added Jeremy Ezra, Vice
Chairman of Newmark.
Pinstripes also announced the opening of its new Orlando
location on April 20th in Vineland Point; its plans to open Walnut
Creek, CA and Coral Gables, FL, in the coming months; two prominent
Seattle locations, Bellevue and Lake Union, in late 2024/2025,
respectively, with Vulcan Real Estate; and further plans to open a
2025 Jacksonville location with Simon Property Group at its St.
Johns Town Center lifestyle project. Combined with Pinstripes’
current portfolio of 17 open locations, Pinstripes currently has 23
total locations open or under lease, with additional locations
under active consideration.
About Pinstripes Born in the Midwest, Pinstripes’
best-in-class venues offer a combination of made-from-scratch
dining, bowling and bocce and flexible private event space. From
its full-service Italian-American food and beverage menu to its
gaming array of bowling and bocce, Pinstripes offers
multi-generational activities seven days a week. Its elegant and
spacious 25,000-28,000 square foot venues can accommodate groups of
20 to 1,500 for private events, parties, and celebrations. For more
information on Pinstripes, led by Founder and CEO Dale Schwartz,
please visit www.pinstripes.com.
About Newmark Newmark Group, Inc. (Nasdaq: NMRK),
together with its subsidiaries ("Newmark"), is a world leader in
commercial real estate, seamlessly powering every phase of the
property life cycle. Newmark's comprehensive suite of services and
products is uniquely tailored to each client, from owners to
occupiers, investors to founders, and startups to blue-chip
companies. Combining the platform's global reach with market
intelligence in established and emerging property markets, Newmark
provides superior service to clients across the industry spectrum.
For the year ended December 31, 2023, Newmark generated revenues of
approximately $2.5 billion. As of that same date, Newmark's
company-owned offices, together with its business partners,
operated from approximately 170 offices with 7,400 professionals
around the world. To learn more, visit nmrk.com or follow
@newmark.
Discussion of Forward-Looking Statements about Newmark
Statements in this document regarding Newmark that are not
historical facts are "forward-looking statements" that involve
risks and uncertainties, which could cause actual results to differ
from those contained in the forward-looking statements. These
include statements about the Company's business, results, financial
position, liquidity, and outlook, which may constitute
forward-looking statements and are subject to the risk that the
actual impact may differ, possibly materially, from what is
currently expected. Except as required by law, Newmark undertakes
no obligation to update any forward-looking statements. For a
discussion of additional risks and uncertainties, which could cause
actual results to differ from those contained in the
forward-looking statements, see Newmark's Securities and Exchange
Commission filings, including, but not limited to, the risk factors
and Special Note on Forward-Looking Information set forth in these
filings and any updates to such risk factors and Special Note on
Forward-Looking Information contained in subsequent reports on Form
10-K, Form 10-Q or Form 8-K.
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this press release constitute
“forward-looking statements.” Such forward-looking statements are
often identified by words such as “believe,” “may,” “will,”
“estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,”
“would,” “plan,” “predict,” “forecasted,” “projected,” “potential,”
“seem,” “future,” “outlook,” and similar expressions that predict
or indicate future events or trends or otherwise indicate
statements that are not of historical matters, but the absence of
these words does not mean that a statement is not forward-looking.
These forward-looking statements and factors that may cause actual
results to differ materially from current expectations include, but
are not limited to: the ability of Pinstripes to recognize the
anticipated benefits of Pinstripes’ recently completed business
combination transaction, which may be affected by, among other
things, competition, the ability of Pinstripes to grow and manage
growth profitably, maintain key relationships and retain its
management and key employees; risks related to the uncertainty of
the projected financial information with respect to Pinstripes;
risks related to Pinstripes’ current growth strategy; Pinstripes’
ability to successfully open and integrate new locations; risks
related to the substantial indebtedness of Pinstripes; risks
related to the capital intensive nature of Pinstripes’ business;
the ability of Pinstripes’ to attract new customers and retain
existing customers; the impact of the COVID-19 pandemic, including
the resulting labor shortage and inflation, on Pinstripes; and
other economic, business and/or competitive factors. The foregoing
list of factors is not exhaustive.
Stockholders and prospective investors should carefully consider
the foregoing factors and the other risks and uncertainties
described in the "Risk Factors" section of the most recent
Quarterly Report on Form 10-Q filed by Pinstripes on February 21,
2024 and other documents filed by Pinstripes from time to time with
the SEC.
Stockholders and prospective investors are cautioned not to
place undue reliance on these forward-looking statements, which
only speak as of the date made, are not a guarantee of future
performance and are subject to a number of uncertainties, risks,
assumptions and other factors, many of which are outside the
control of Pinstripes. Pinstripes expressly disclaims any
obligations or undertaking to release publicly any updates or
revisions to any forward-looking statements contained herein to
reflect any change in the expectations of Pinstripes with respect
thereto or any change in events, conditions or circumstances on
which any statement is based.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240507482718/en/
Investor Relations: ICR for Pinstripes
PinstripesIR@icrinc.com
Media Relations: ICR for Pinstripes
PinstripesPR@icrinc.com
Grafico Azioni Pinstripes (NYSE:PNST)
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Da Ott 2024 a Ott 2024
Grafico Azioni Pinstripes (NYSE:PNST)
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Da Ott 2023 a Ott 2024
