Simon invests in high-end bowling and dining concept
Pinstripes, a 30,000-sq.-ft. entertainment concept that offers bowling, bocce, and fine Italian dining in a spacious two-level environment has an important new investor.
It’s Simon Property Group, which has acquired a minority stake in the operator and, as part of the deal, will open Pinstripes locations in three of its malls, according to a report in Restaurant Business.
Simon is being aggressive in adapting to the seismic shifts in retailing. Earlier this month, it announced a partnership with Rue Gilt Groupe to commercialize the website ShopPremiumOutlets.com. Simon intends to spend $280 million on the launch.
Pinstripes sealed a nearly identical deal with Brookfield Properties earlier this year. It will be opening in three of that big mall owner’s properties, as well.
Among Pinstripes 10 locations are Cleveland, Chicago, Washington, D.C., and Overland Park, Kan. It will be opening soon in Houston, San Mateo, Calif., and Norwalk, Conn.
Pinstripes has set an expansion goal of 100 locations.