The dining/entertainment venue operator Pinstripes Holdings Inc. (NYSE: PNST) has signed a new agreement with Newmark Group (NASDAQ:NMRK) for the company to act as Pinstripes’ exclusive Master Broker throughout the U.S. and overseas.
The Newmark partnership will enable Pinstripes to expand on its real estate opportunities. Newmark will also work in conjunction with Pinstripes’ preexisting network of local brokers across the country.
Pinstripes also announced the April 20 opening of its new Orlando location along with plans to open new venues in Walnut Creek, California, and Coral Gables, Florida, in the coming months along with two Seattle-area locations late this year 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.
“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.”
“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.
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