GRAND RAPIDS, MICH. — Radiant Smiles has opened a 2,489-square-foot dental office at 4650 Plainfield Ave. in Grand Rapids. Hillary Taatjes Woznick and Doug Taatjes of NAI Wisinski of West Michigan represented the landlord, Comprehensive Engineering, in the lease. Ryan Gillespie of CARR Realty represented the tenant. Comprehensive Engineering purchased the building in 2021 and also occupies space within it.
NEW YORK CITY — Electric Shuffle, a concept that features high-tech shuffleboard, food and drinks, will open a 10,000-square-foot entertainment center on the second floor of the new Virgin Hotel in Manhattan’s NoMad district. John Few of SRS Real Estate Partners represented Electric Shuffle in the lease negotiations. Adam Weinblatt of Newmark, along with internal agent Richard Tang, represented the landlord, The Lam Group. The opening is slated for next spring.
MECHANICSVILLE, VA. — VICI Properties Inc. has acquired 38 bowling alleys from Mechanicsville-based Bowlero Corp. in a sale-leaseback transaction for a total $432.9 million. Bowlero will now occupy the properties, which are located across 17 states, on a triple-net-lease basis. Initial annual rent for the lease will total $31.6 million. The deal also included an eight-year right of first offer (ROFO) term for VICI to purchase Bowlero’s real estate assets. J.P. Morgan acted as financial advisor to VICI in the transaction, and Hogan Lovells US LLP and Kramer Levin Naftalis & Frankel LLP provided legal counsel. VICI Properties Inc. is an experiential REIT that owns one of the largest portfolios of gaming, hospitality and entertainment destinations, including Caesars Palace Las Vegas, MGM Grand and the Venetian Resort Las Vegas. Bowlero is a publicly traded company that operates 325 bowling alleys across North America. Earlier this year, Bowlero acquired the Lucky Strike Entertainment LLC brand, which operated 14 locations across nine states. In 2019, the company purchased the Professional Bowlers Association.
GREER, S.C. — Red Rock Developments has signed a 304,884-square-foot lease at the developer’s speculative warehouse in Greer, about 12 miles from Greenville, S.C. Delivered in August, the property is situated within the second phase of Smith Farms Industrial Park, an industrial park that Red Rock owns with capital partner LXP Industrial Trust. Dunlop Sports Americas will fully occupy the building, which features 36-foot clear heights, shipping/receiving offices and dock packages with 40,000-pound hydraulic levelers, seals, dock fans and lights. Marcus Cornelius, Trey Pennington and Jeff Benedict of CBRE represented Red Rock in the lease negotiations. Jeff Head and Tommy Turner of Newmark represented the tenant.
CONROE, TEXAS — Hertha Metals, a provider of sustainable steelmaking solutions, has signed an 18,017-square-foot industrial lease at Northstar Industrial Park in Conroe, about 40 miles north of Houston. The 79-acre development currently houses five buildings and could ultimately feature up to 750,000 square feet of distribution and manufacturing space once the undeveloped 31.5 acres are built out. Drew Coupe and Dawson Smith of Avison Young represented the landlord, BAUER Group, in the lease negotiations. John Hornbuckle of Cypressbrook Co. represented the tenant.
HOUSTON — Locally based brokerage firm Oxford Partners has negotiated a 14,228-square-foot industrial lease renewal and expansion at 16802-16810 Barker Springs Road in West Houston. According to LoopNet Inc. the building was originally constructed in 1979 and totals 73,784 square feet. Ryley Caton of Oxford Partners represented the tenant, Groninger Cleaning Systems, in the lease negotiations. Carter Holmes of Cushman & Wakefield represented the landlord, an entity doing business as BPREP PARK 10 LLC.
CHICAGO — Spa provider Bathhouse has signed a 40,000-square-foot, build-to-suit lease at 1010 W. Madison St. in Chicago. The property will feature two levels of amenities as well as a rooftop pool and restaurant. The design of the concrete and glass building will pay homage to old-world bathhouses. Bathhouse offers hot saunas, cold plunges and massages. Guests can choose between day passes and specific treatments. The developer of the project, Fulton Street Cos., acquired the site in September 2020 from a private investor. It was a parking lot at the time.
CHICAGO — Beity, a culinary concept inspired by Lebanese and French cuisines, and Voodoo Doughnuts, an Oregon-based doughnut chain, have signed new retail leases in Chicago’s Fulton Market. The Feil Organization owns both properties. Beity signed a 3,700-square-foot lease at 813 W. Fulton Market, a retail and residential development. Voodoo signed a 2,734-square-foot lease at 945 W. Randolph, a one-story, 12,400-square-foot retail space. Beity, which means “home” in Arabic, is the debut restaurant concept from Chef Ryan Fakih. Inspired by the cooking of his upbringing and the French cuisine that he honed while at Le Cordon Bleu in Paris, Fakih seeks to redefine French-Lebanese cuisine. The restaurant is expected to open in November. Quinn Thomas of Goldstreet Partners represented Beity in the lease. Voodoo’s lease marks its first location in Illinois. The doughnut company is known for its imaginative and creative confections. The Illinois location is scheduled to open in December. Sean Bossy and Ali Hicks of Tether Advisors represented Voodoo in the lease. Nick Dries represented Feil on an internal basis in both leases. The asking rent was $125 per square foot in both transactions.
DALLAS — M Financial Group, an Oregon-based financial services firm, has signed a 52,000-square-foot office lease at The Quad, a 364,000-square-foot office and retail development in Uptown Dallas. Stream Realty Partners is developing The Quad and targeting a March 2024 completion. Ryan Evanich and Marissa Parkin of Stream Realty Partners represented ownership in the lease negotiations. Dean Collins, Mark Collins and Doug Deurwaarder of Cushman & Wakefield represented M Financial Group. Other office users that have committed to The Quad include Blackstone affiliate Revantage (32,000 square feet) and Chicago Title (20,000 square feet).
COMMACK, N.Y. — PGA Tour Superstore has opened a 39,225-square-foot shop at Mayfair Shopping Center, a 220,000-square-foot development located in the Long Island community of Commack. Hugh Scullin of regional brokerage firm Katz & Associates represented PGA Tour Superstore in the lease negotiations. E.J. Moawad of Levin Management Corp. represented the undisclosed landlord. The store will be the retailer’s fourth in New York.
