Pinstripes Announces Master Broker Partnership with Newmark and Continued Nationwide Expansion
Pinstripes Holdings, Inc. announced a strategic real estate partnership with Newmark to accelerate its expansion efforts. The company is focusing on its rollout strategy in the U.S. with a blend of dining and entertainment experiences. With seventeen venues currently open, two more opening soon, and four additional sites planned for 2024/2025, Pinstripes aims to reach at least 150 locations nationwide.
Pinstripes secured a strategic real estate broker agreement with Newmark, enhancing its real estate opportunities.
The company continues to execute its rollout strategy with seventeen venues currently open, two more set to open soon, and four sites planned for 2024/2025.
Pinstripes' partnership with Newmark will help accelerate its development efforts and expand into new markets.
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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’ newest location in
“Pinstripes remains focused on executing our rollout strategy in the
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
Pinstripes also announced the opening of its new
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
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.
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Investor Relations:
ICR for Pinstripes
PinstripesIR@icrinc.com
Media Relations:
ICR for Pinstripes
PinstripesPR@icrinc.com
Source: Pinstripes, Inc.
FAQ
<p>When did Pinstripes announce the new Master Broker partnership with Newmark?</p>
Pinstripes announced the new Master Broker partnership with Newmark in the press release.
<p>Where was Pinstripes' newest location opened recently?</p>
Pinstripes' newest location opened in Orlando, Florida, at Vineland Point.
<p>How many total locations does Pinstripes currently have open or under lease?</p>
Pinstripes currently has 23 total locations open or under lease.
