Round1 Bowling & Arcade Opening 80K-SF Spot at Queens’ Skyview Mall
By Isabelle Durso December 11, 2024 10:29 am
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A Japanese bowling alley chain is striking out to open its first location in the five boroughs, Commercial Observer has learned.
Round1 Bowling & Arcade, a subsidiary of Japan-based amusement chain Round1, will be a new tenant at The Shops at Skyview in Flushing, Queens, after signing a 10-year lease for 80,300 square feet, according to tenant broker Newmark (NMRK).
The 700,000-square-foot shopping center at 40-24 College Point Boulevard is owned by Blackstone (BX) subsidiary ShopCore Properties. Asking rent was $4 million per year, according to Newmark.
The deal represents Round1’s first New York City location, after opening more than 50 locations across the U.S. and over 100 bowling alleys in Japan, according to its website. Round1 was founded in 1980 and, aside from bowling, offers arcade games, pingpong, darts and occasionally karaoke.
“The closing of this transaction is a testament to the power of commitment and partnership, two components that continued to drive this deal forward over the last two years,” Newmark’s David Friedman, who represented the tenant along with Andrew Stern, said in a statement.
“We congratulate Round1 on the impending opening of their first New York City location and look forward to our continued partnership as we seek to realize their goal of national expansion,” Friedman added.
Ripco Real Estate‘s Jeremy Issacs brokered the deal for the landlord. Spokespeople for Round1 and Ripco did not immediately respond to requests for comment.
The deal also represents the “largest new retail lease transaction to close in New York City so far this year,” closing right before the ball drops, Newmark said.
Blackstone bought the retail and garage portion of the Flushing shopping development in 2015 from Onex Real Estate Partners for $400 million, according to The Real Deal. It secured a $285 million loan in 2021 to refinance the property, TRD reported.
“Round1 is a fantastic addition to The Shops at Skyview,” Peter Maggio, executive vice president and chief revenue officer of ShopCore, said in a statement. “We are proud to provide exciting experiences like this that deepen the center’s role as a central gathering space for guests of all ages.”
Other retail tenants of the mall between 40th Road and Roosevelt Avenue include Adidas, Foot Locker, Old Navy, Sephora and Target, according to the mall’s website.
Isabelle Durso can be reached at idurso@commercialobserver.com.
