Dallas/Fort Worth, Texas — Curry Up Now, the nation’s largest and fastest growing Indian fast-casual concept, signed a deal with a franchise group in the Dallas, Fort Worth and Houston areas to bring five new Curry Up Now restaurants, some with Mortar & Pestle craft cocktail bars, to Texas. This deal comes on the heels of a six-unit franchise deal signed for Dallas, Fort Worth and Austin just a few weeks earlier. Curry Up Now operates 11 restaurants and three craft cocktail bars across the country, with nearly 50 restaurants …
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New York City — Newmark has signed a 6,000-square-foot lease for the New York City flagship for Amsterdam’s fashion and lifestyle brand, Daily Paper, at 18 Delancey St. This transaction marks Daily Paper’s inaugural stateside flagship on New York’s Lower East Side. Newmark represented the landlord, Solar Realty Management, while Selene represented the tenant in the transaction. “Despite all the recent turmoil with COVID-19 and the restructuring of many retailers, brands like Daily Paper are embracing the changing landscape and using the unique physical space to amplify their aesthetic, creating …
Union, N.J. — Bed Bath & Beyond Inc. has entered into a definitive agreement to sell its remaining non-core banner Cost Plus World Market to Kingswood Capital Management, a Los Angeles-based private equity firm. Additionally, the company approved a new $150 million accelerated share repurchase program (ASR), subject to market conditions, which will be in addition to the $225 million ASR announced on October 28, 2020. Both ASR programs are expected to be completed by no later than the end of the company’s fiscal year on February 27, 2021. The …
Miami — Balfour Beatty has completed construction on River Landing Shops and Residences, a 2.5 million-square-foot, mixed-use development along the Miami River. On behalf of real estate investment trust H&R REIT and South Florida developer Urban-X Group, with Matthews Southwest providing owner representative services, the $298 million mega-project will be a premier dining and shopping destination in the heart of the second largest health district in the U.S. River Landing Shops and Residences is built on 8.1 acres of riverfront land and is one of the few projects in the …
Rosemont, Ill. — After serving as president of McShane Construction Company for 22 years, Jeff Raday (left) will retire at the end of the year. Upon Raday’s retirement from the firm, Mat Dougherty (right), executive vice president at McShane, will transition into the president’s role. “We have been planning this transition for quite some time,” says Raday. “I’m very excited to see what the future holds for McShane Construction under Mat’s leadership.” Raday joined the firm in October 1996 as vice president and was promoted to president in March 1998. …
Salisbury, N.C. — Food Lion has completed the $212.5 million remodel of 112 grocery stores in Virginia, West Virginia, Delaware, Pennsylvania and Maryland. The Salisbury, N.C.-based grocer hired 2,300 employees at the stores. According to a study conducted by Towson University’s Regional Economic Studies Institute, the stores will generate $360 million in economic impact. Over the next week, the locations will hold giveaways that will range from reusable shopping bags to gift cards. Each store now includes more items in the “local goodness” section, an expanded craft beer and limited …
Henderson, Nev. — Potbelly Sandwich Shop is opening its first Nevada location in Henderson on Dec. 11. The shop is located in the Shoppes on the Parkway development near the intersection of St. Rose Parkway and Amigo Street, which is becoming a hot spot for new restaurants and retail stores. The Potbelly Henderson location is the first shop in a franchise development agreement that will bring 10 locations to the Las Vegas market. Local restaurant operations expert and vice president of Veritasfaythe, Gregg Kocenko, has been integral in the development …
Pittsburgh — DICK’S Sporting Goods, Inc., the largest U.S.-based, omnichannel sporting goods retailer, has named Edward W. Stack, chairman and chief executive officer, to assume the role of executive chairman and continue as chief merchant on February 1, 2021. He also will oversee key strategic growth initiatives for the company. Stack has served as chairman and CEO of DICK’S since he and his siblings bought his father’s two small sporting goods stores in upstate New York in 1984. Today, DICK’s has more than 850 stores. The company’s board of directors …
Houston — Francesca’s, the Houston-based apparel and accessories chain for women, has filed for Chapter 11 bankruptcy and will close an additional 97 stores across the country, according to documents filed in the U.S. Bankruptcy Court for the District of Delaware. Francesca’s had previously announced in mid-November that it would be closing 140 stores, or roughly 20% of its total count, and possibly pursuing a Chapter 11 bankruptcy declaration. According to CNBC, Francesca’s has received a buyout offer from Los Angeles-based TerraMar Capital and hopes to close a sale by …
New York City — The Hummus & Pita Co., a New York City-based fast-casual concept, debuted its new location in the Upper East Side neighborhood of Manhattan on Dec. 5. The new restaurant is located between 2nd and 3rd avenues at 216 E. 86th St. The Hummus & Pita Co. joins other restaurants such as Sweetgreens, Shake Shack, and Chipotle in the high-traffic area. “We are thrilled to be opening our new location in such a highly coveted area and further expanding our New York footprint into a new area …