“Some people look for a beautiful place, others make a place beautiful.” — Inayat Khan This sentiment captures what today’s developers and city leaders are striving to achieve through the art of placemaking. Nowhere is this trend more evident than in the retail sector. Today’s retail owners and developers are becoming increasingly collaborative with city stakeholders and artists in an effort to create retail destinations that are more beautiful, impactful and powerful — ultimately attracting more guests, encouraging higher lengths of stay and increasing overall return on investment (ROI). One …
Entertainment
Marcus & Millichap Brokers Sale of 12-Screen AMC Theater in Tyngsboro, Massachusetts
Tyngsboro, Mass. — Marcus & Millichap has brokered the $7 million sale of a 12-screen AMC Theater in Tyngsboro, located approximately 35 miles northwest of Boston. Located at 440 Middlesex Road, the 39,474-square-foot theater originally opened in 1991. The building was recently renovated to improve all 12 screening rooms, the roof and the parking lot, and now includes a full bar. Glen Kunofsky, Josh Kanter and Anthony D’Ambrosia of Marcus & Millichap represented the undisclosed seller in the transaction. Russell Wachtler, also with Marcus & Millichap, represented the buyer, a …
San Antonio — EVO Entertainment, an entertainment retail concept that combines bowling, movies, games, food and beverages, will open an 80,000-square-foot venue at Escala in San Antonio. The center will feature 10 movie screens, 12 bowling lanes, a restaurant and bar, arcade and virtual reality games, a ropes course and private event space. Metro Dallas-based N3 Real Estate is the developer of Escala, a shopping center located at the intersection of State Highway 151 and Military Drive on the city’s northwest side. The venue will be the seventh for EVO, …
Howard Samuels knows a thing or two about new concepts. For more than 30 years, he has represented retailers, entertainment concepts and restaurants seeking to find space in traditional retail environments. As president of Samuels & Company, he’s navigated deals with many of the nation’s largest landlords and introduced many new concepts to retail environments. SCB recently interviewed Samuels to get a take on what new concepts need to make a deal, and the disconnect between landlords and this new breed of tenant. SCB: Do you feel that retail landlords …
It’s a Millennial world; we’re just living in it. Though this might sound defeatist, the Harris Poll would probably tell you this information is quite useful. After all, we’re also living in a data-driven world. With that in mind, Harris Poll cites that Millennials make up two-thirds of the working population, with 10,000 Baby Boomers retiring every day. A recent survey by the market research firm also notes that 75 percent of Millennials would rather purchase an experience than fungible goods, or an item that can easily be replaced or …
Los Angeles — In today’s retail environment, adding local food and beverage concepts, entertainment venues and landscaped parks seems like a surefire way to revitalize a dated shopping center. A trickier task is determining how exactly these nontraditional concepts boost the bottom line. A panel of retail owners and service providers weighed in on this topic at France Media’s sixth annual Entertainment Experience Evolution conference at the JW Marriott L.A. Live in Los Angeles last week. “This panel started because I’m a bit of a skeptic as it relates to …
Waco, Texas — Dallas-based sports entertainment company Topgolf has signed a lease at Cottonwood Creek Market, a 285,000-square-foot entertainment destination in Waco that is scheduled to open this winter. Topgolf joins Cinemark, which will open a 14-screen theater, as the second of three entertainment anchors at Cottonwood Creek Market. Houston-based developer NewQuest Properties commenced site work on the project last summer and is in talks with a bowling and dining concept to potentially serve as the third anchor. Steve Greenberg of The Retail Connection represented Topgolf in the lease negotiations. …
Holtsville, N.Y. — Dallas-based sports and entertainment company Topgolf will open a $25 million driving range and restaurant facility in Holtsville, a city located on the eastern part of Long Island. The facility will feature three levels of entertainment and dining space on a 26.6-acre site. The facility will be Topgolf’s first venue in New York and is expected to bring 500 new full-time jobs to the state. Construction is slated for completion in early 2021.
Wheeling, Ill. — CMX CinéBistro is set to open at Wheeling Town Center on Friday, Feb. 14 in suburban Chicago. The movie theater anchors the retail portion of the mixed-use project. Spanning 40,000 square feet CMX CinéBistro Wheeling will offer a bar and lounge area, seven screens, reclining seats and tables for food and beverage service. After 8 p.m., movie goers must be 21 years of age or older. Previous tenants who have opened at Wheeling Town Center include Starbucks, Inland Bank, AT&T and City Works. The apartments at the …
League City, Texas — Austin-based Alamo Drafthouse Cinema will open a 10-screen movie theater within the Victory Lakes shopping center in League City, a southeastern suburb of Houston, in late 2020. The theater will feature oversized recliners, made-from-scratch food and a standalone lobby with more than 40 local and regional craft beers. The new Alamo Drafthouse will be the company’s first venue in the Houston area since Alamo Drafthouse LaCenterra opened in Katy in 2018.