Pinstripes appears out at Amazon-occupied Bellevue tower - Puget Sound Business Journal

Pinstripes, a Chicago-based restaurant and entertainment brand, has officially withdrawn from plans to open a location in the 21,000-square-foot retail pavilion at the Amazon-leased 555 Tower in Bellevue. Originally slated for a mid-2024 opening, the space is now being advertised for lease, showcasing little to no construction progress since last spring. The decision reflects broader financial challenges faced by the company, which has struggled with decreased consumer and corporate spending on events. Pinstripes CEO Dale Schwartz previously highlighted the Bellevue project in discussions with investors, but recent developments suggest a shift in priorities. In the meantime, the company is still committed to a deal at the Lake Union Piers project, which remains under lease and was announced last April.

The lack of updates from both Pinstripes and Vulcan Real Estate raises questions about the future of the Bellevue space, which was once a key component of the brand's expansion strategy. Founded in 2007, Pinstripes operates over a dozen locations nationwide, emphasizing corporate events as a primary revenue stream. As the economic landscape evolves, the company’s ability to adapt will be crucial for its growth and sustainability.