Pinstripes Expands Footprint with Brookfield Properties Partnership
Experiential Dining and Entertainment Concept Positioned for Exciting Growth
CHICAGO, May 2, 2019 /PRNewswire-PRWeb/ -- Pinstripes, Inc. announced today their partnership with Brookfield Properties to open three new locations. With a minority equity investment in Pinstripes, the real estate company has identified additional locations for the dining and entertainment concept at various Brookfield Properties assets throughout the United States.
"Our retail properties are a hub for daily life, and today's consumer expects a great experience that features dining, entertainment and celebrates community," explains Sandeep Mathrani, CEO of Brookfield Properties and Vice Chairman of Brookfield Property Group. "This type of tenant offering has grown throughout our portfolio in recent years, and our partnership with Pinstripes is a natural collaboration that represents evolution in our industry. We look forward to introducing the Pinstripes concept to new markets."
Pinstripes currently has one location within Brookfield Properties' portfolio, at the renowned Oakbrook Center outside of Chicago. The new locations are slated to open at Streets of Southpoint in Durham, N. Carolina, Halley Rise in Reston, Virginia and will be an addition to the highly anticipated SoNo Collection in Norwalk, Connecticut.
"We are excited to work with Sandeep and his team to further transform the retail experience and offer our guests a magical venue to connect with each other," stated Dale Schwartz, Founder/CEO of Pinstripes. "Our unique combination of dining and entertainment is an ideal tenant for Brookfield Properties, and this partnership will further enable Pinstripes to accelerate its expansion plans of opening over 100 locations throughout the U.S. and overseas over the next several years."
In anticipation of these expansion plans, Pinstripes recently hired Susan Walmesley, formerly Vice President of Marketing with Topgolf, as its Chief Marketing Officer, and prior to that Rob Hense, former head of real estate at both Apple and Crate & Barrel, as its Chief Development Officer. These two seasoned hires have considerable expertise in scaling experiential brands and complement the balance of the Pinstripes executive team. Moreover, the Company also recently added Karen Katz, former CEO of Neiman Marcus, as an Advisor. Her branding and operational expertise, in particular, will be of tremendous value to the Company, and she joins a Board that includes, among others, Jack Greenberg, former Chairman and CEO of McDonald's Corporation, and Yorgo Koutsogiorgas, former SVP of Maggiano's and the current CEO of Giordano's.
For more information on Pinstripes, please visit https://pinstripes.com/.
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About Pinstripes
Pinstripes, Inc. is an experiential dining and entertainment concept featuring exceptional Italian-American cuisine and thoughtfully selected wine and cocktails, combined with bowling and bocce. Dynamic event spaces for groups of 20 to 1,000 include unique and expansive outdoor rooftops or patios, perfect for family gatherings, weddings and other special events. Founded in 2007, the company is headquartered in Chicago and currently operates ten locations nationwide (Northbrook, South Barrington, Oak Brook and Chicago, IL; Edina, MN; Georgetown, D.C.; Bethesda, MD; Overland Park, KS; Fort Worth, TX; and Cleveland, OH), with significant plans for further expansion. To learn more, visit http://www.pinstripes.com.
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About Brookfield Properties
Brookfield Property Partners is one of the world's largest commercial real estate companies, with approximately $90 billion in total assets. We are leading owners, operators and investors in commercial real estate, with a diversified portfolio of premier office and retail assets, as well as interests in multifamily, triple net lease, industrial, hospitality, self-storage, student housing and manufactured housing assets. Brookfield Property Partners is listed on the Nasdaq Stock Market and Toronto stock exchange. Further information is available at bpy.brookfield.com.
Brookfield Property Partners is the flagship listed real estate company of Brookfield Asset Management, a leading global alternative asset manager with over $285 billion in assets under management.
SOURCE Pinstripes, Inc.
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