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AMC Theatres Raises $917 Million of Investment Capital, Says Bankruptcy is ‘Completely Off Table’

by Katie Sloan

Leawood, Kan. — In effort to remain financially afloat amid the COVID-19 pandemic, AMC Entertainment Holdings Inc. (NYSE: AMC) has raised or signed commitment letters to receive $917 million of new equity and debt capital. The Leawood-based movie theater company says the increased liquidity should enable it to survive well into 2021. Of the $917 million, AMC raised $506 million of equity from the issuance of new common shares. Additionally, the company executed commitment letters for $411 million of incremental debt capital from upsizing and refinancing its European revolving credit …

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Investment salesKansasNewsRetailers

Block & Co. Sells 8,000-Square-Foot Monticello Center in Shawnee, Kansas

by Alex Tostado

Shawnee, Kan. — An investment group headed by Block & Co. Inc. Realtors has sold Monticello Center, an 8,000-square-foot retail building in Shawnee. The sales price was undisclosed. The property is fully leased to Chipotle, Farmers Insurance, Domino’s, Lush Nail Spa and Yoga Fit. Block & Co originally developed the building in 2004 and has remained its leasing and property management company. David Block and Larry Graves of Block & Co. represented the seller. Cory DeLong of AREA Real Estate Advisors represented the undisclosed buyer.

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FeaturesKansasMissouri

COVID-19 Continues to Put Tenant-Landlord Relationships Under Microscope, Say Kansas City Retail Webinar Panelists

by Alex Tostado

Kansas City, Mo. — The COVID-19 pandemic has continued to highlight the importance of strong tenant-landlord relationships, particularly in the retail sector. Tyler Enders, co-owner of local Kansas City shop Made in KC, works with roughly 10 different landlords and has experienced a variety of different approaches to the COVID-19 conversation. “Some local landlords have been very communicative and have come to us with a creative solution. Others have been responding late and are bogged down,” said Enders. “Ultimately, we’ll continue to look at vibrant centers, but we’re going to …

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Investment salesKansasNewsRetailers

Block & Co. Acquires 46,538-Square-Foot Former Best Buy Store in Kansas City

by Alex Tostado

Kansas City, Kan. — Block & Co. Inc. Realtors has acquired a former Best Buy store located at 10500 Parallel Parkway in Kansas City. The purchase price was undisclosed. The 46,538-square-foot freestanding building sits on 4.2 acres within the 850,000-square-foot Plaza at the Speedway shopping center. David Block, Alex Block and Max Kosoglad of Block & Co. represented the buying entity. David Hickman of CBRE represented the undisclosed seller. Block & Co. will handle the leasing and management of the vacant space, which can be leased to a single tenant …

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Company newsEntertainmentKansasNews

AMC Theatres Delays Reopening Until July 30 to Coincide with Movie Releases

by Alex Tostado

Leawood, Kan. — AMC Theatres has delayed its U.S. reopening date until July 30. The company will resume operations of 450 U.S. theaters as part of a phased plan that is expected to bring the 600-plus U.S. theaters to full operation by early August. AMC says the new reopening date aligns with updated release timing for major movies such as “Tenet” on Aug. 12 and “Mulan” on Aug. 21. Previously, AMC had expected to be fully open globally in July when Christopher Nolan’s spy film “Tenet” was scheduled to release …

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Company newsEntertainmentKansasNews

AMC Theatres Expects to be ‘Fully Open’ Globally in July

by Alex Tostado

Leawood, Kan. — AMC Entertainment Holdings Inc. (NYSE: AMC) plans to reopen almost all of its U.S. and U.K. theaters in July. The Leawood-based movie theater chain has already reopened 10 theaters in Norway, Germany, Spain and Portugal, and expects to be fully open globally in July ahead of the release of Christopher Nolan’s “Tenet” on July 17 and Disney’s “Mulan” on July 24. AMC is working closely with local, national and international officials to coordinate timing and requirements of reopening. It is consulting with the Harvard University School of …

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Company newsEntertainmentKansasNews

AMC Theatres: ‘Substantial Doubt’ Exists Regarding Ability to Stay in Business

by Alex Tostado

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 …

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Company newsEntertainmentKansasNews

AMC Theatres to Close All U.S. Locations for Six to 12 Weeks

by Alex Tostado

Leawood, Kan. — AMC Theatres (NYSE: AMC) has closed all 630 AMC locations in the United States for at least six to 12 weeks, in compliance with local, state and federal directives, and as a precaution to help ensure the health and safety of moviegoers and theater staff amid the coronavirus pandemic. The company says it will continue to monitor the situation closely and remain flexible on reopening in accordance with the Centers for Disease Control and Prevention recommendations and governmental directives. More than a dozen states and major markets …

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DevelopmentKansasNewsRetailers

Darland Construction Completes Conversion of Former Kmart into Multi-Tenant Shopping Center in Topeka

by Alex Tostado

Topeka, Kan. — Darland Construction Co. has completed the conversion of a former Kmart store in Topeka into Wanamaker Hills Shopping Center. The 108,546-square-foot retail property is now home to Ulta, Old Navy, DSW, Five Below and Petco. Equity Investment Group, an Indiana-based developer, bought the property in 2014. Schwerdt Design Group was the project architect.

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Investment salesKansasLeasingNewsRetailers

MAG Capital Partners Acquires 43,000-Square-Foot Kansas Retail Building in Sale-Leaseback

by Alex Tostado

Overland Park, Kan. — MAG Capital Partners LLC has acquired a 43,000-square-foot retail building located at 12100 Blue Valley Parkway in Overland Park for an undisclosed price. The seller, Lukas Wine & Spirits Superstore, will lease back the property. Brendan McPherson of Polsinelli PC and Mary Garnett of Barnes & Thornburg LLP represented MAG Capital Partners, which is led by principals Dax T.S. Mitchell and Andrew Gi. Victor Saponari of Quantum Capital arranged acquisition financing through Deutsche Bank. Michael Kaider of CBRE represented the seller.

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