Charleston, W.Va. — West Virginia Gov. Jim Justice on Friday allowed movie theaters and casinos in the state to reopen. Theaters are required to operate with social distancing guidelines in place, including limiting the theater occupancy that will allow for proper distancing, adjusting common area layouts to allow for a six-foot distance between patrons who do not live together, encouraging all patrons and employees to wear personal protective equipment (PPE) and encouraging patrons to purchase tickets in advance to limit cash transactions. For casinos, occupancy must be limited to 50 …
Leawood, Kan. — AMC Entertainment Holdings Inc. (NYSE: AMC) says it has “substantial doubt” for its ability to remain in business after shutdowns due to the coronavirus. If the movie theater chain is not able to recommence operations within its estimated timeline, it will require additional capital. The Leawood-based company temporarily suspended operations at all of its theaters through June and is generating no revenue. Even if governmental operating restrictions are lifted in certain jurisdictions, AMC says distributors may delay the release of new films until operating restrictions are eased …
Orlando, Fla. — Walt Disney World Resorts has submitted a proposal to the Orange County Economic Recovery Task Force to begin reopening the Orlando parks July 11. Pending approval, Magic Kingdom and Animal Kingdom will open July 11 and Hollywood Studios and Epcot will reopen July 15. In an effort to limit large gatherings, parades and nighttime fireworks shows will still be indefinitely unavailable. Additionally, “high-touch” experiences, such as makeovers, playgrounds and character meet-and-greets, will also be temporarily unavailable, though characters will still be in the parks. To limit capacity, …
Miami Gardens, Fla. — With sports absent from Americans’ daily lives due to the COVID-19 outbreak, Hard Rock Stadium in Miami Gardens has pivoted to offer a drive-in movie theater. The 65,000-seat stadium is home to the NFL’s Miami Dolphins and college football’s University of Miami Hurricanes. The field will be able to hold up to 230 cars and the open-air theater will host small groups. Events throughout Dolphins’ team history, family-friendly movies and even commencement ceremonies will be shown. Food and beverages can be purchased through an online system …
Upper Saddle River, N.J. — Stumpy’s Hatchet House LLP, an entertainment concept that centers on axe-throwing, has signed a 14,194-square-foot retail lease in Upper Saddle River, approximately 30 miles northwest of New York City. The space is located in a 29,795-square-foot building at 107 Pleasant Ave. that also houses The Gravity Vault, an indoor rock climbing concept. The store will be Stumpy’s sixth axe-throwing venue in New Jersey. Conor Ryan and Ryan Bednarski of JLL represented Stumpy’s in the lease negotiations. Samuel Bernhaut and Nicole Nannola of CBRE represented the …
Little Rock, Ark. — Arkansas Gov. Asa Hutchinson has rolled out Phase I plans for reopening the state. Hutchinson says gyms and fitness centers will be able to open Monday, May 4, while restaurants will be allowed to operate dine-in services at one-third capacity Monday, May 11. The guidelines for gyms and fitness centers include the use of facemasks for staff and patrons except when exercising, daily temperature checks for employees and patrons and social distancing of at least 12 feet while exercising. Additionally, Hutchinson placed restrictions on patrons who …
Plano, Texas — Cinemark Theatres, an operating subsidiary of Cinemark USA Inc., has announced the sale of $250 million in senior debt notes in a private offering, the Plano-based entertainment company said in a statement Monday. The offering on senior secured notes that are due in 2025 is expected to close April 20, subject to customary closing conditions. Cinemark said it plans to use proceeds from the sale for “general corporate purposes” that will increase liquidity. Multiple news outlets, including The Dallas Morning News and the Phoenix Business Journal, also report that Cinemark …
Grapevine, Texas — Video game retailer GameStop Corp. (NYSE: GME) plans to close more than 300 North American stores in 2020, the Grapevine, Texas-based company recently announced during its fourth-quarter earnings call. GameStop did not specify which stores and markets would be affected by the closures, but said that it anticipates the total number of shuttered stores to be equal to or greater than the 320 stores that it closed in 2019. GameStop saw its total comparable stores sales across the globe decrease 26.1 percent in the fourth quarter of …
Hayward, Calif. — Faris Lee Investments has brokered the sale of a retail property located at 2401 Whipple Road in Hayward. A private investor acquired the asset from an undisclosed seller for $16 million. LA Fitness (City Sports Club) occupies the 41,000-square-foot facility on a corporate-guaranteed, absolute triple-net lease. Matt Brooks, Joe Chichester and Nicholas Coo of Faris Lee represented the seller and procured the buyer in the transaction.
Salem, Ore. — Marcus & Millichap has negotiated the sale of Broadway Town Square, a mixed-use property located at 1127 Broadway St. NE in Salem. A limited liability company sold the property to an undisclosed buyer for $6.2 million. The sale included two condominiumized, multi-story buildings connected by a skybridge totaling approximately 38,056 square feet of rentable space and the underlying 1.57-acre lot. Developed in 2009 by Telos Development Co., the property features 21 multifamily units, seven retail/office suites and Salem Cinema, a three-screen independent theater. Sean Houser and Will …