MOVIE THEATERS

wpe1C.jpg (4021 bytes) Theaters Rolling Out
Expansion Plans

Cinema North Looks at New Markets

Cinema North Corp. operates seven theaters in NY and VT. Spaces of 20,000 sq.ft. to 25,000 sq.ft. are used in power and strip centers. Plans call for three openings in the coming 18 months, with growth slated for NY, PA and FL. The 16-year-old chain signs a 10-year lease and requires a construction allowance. Demographic requirements include a population of 20,000 within five miles.

For more information, contact Gerald Couture, Cinema North Corp., PO Box 549, 165 Woodstock Avenue, Rutland, VT 05702; 802-775-4915, Fax 775-6943.

Hoyt’s Focused on Northeast

Hoyt’s Cinema Corp. operates 950 screens at 127 locations in CT, MA, MD, ME, MI, NH, NJ, NY, RI, VA, VT and WV. The units operate with 10 to 20 screens in 30,000 sq.ft. to 70,000 sq.ft. in malls and freestanding facilities. The company plans to open 250 screens in 20 locations throughout the Northeastern region. The 10-year-old chain signs a 20-year lease and requires a population of 250,000 within five miles earning $50,000 as the average income. The company will consider taking over existing theaters with 10 to 20 screens.

For more information, contact Paul Beck, Hoyt’s Cinema Corp., One Exeter Plaza, Boston, MA 02116; 617-267-2700, Fax 375-0039.

Edwards Continues in California

Edwards Theatres Circuit, Inc. operates 500 units in CA. Using 50,000 sq.ft. to 100,000 sq.ft. in malls, freestanding facilities and strip centers, the company plans to open five to ten locations in the coming 18 months. Growth will focus on CA.

For more information, contact Mark Stone, director of real estate, Edwards Theatres Circuit, Inc., 300 Newport Center Drive, Newport Beach, CA 92600; 949-640-4600.

Sony Keeps Pace with Loews, Magic Johnson and Loeks-Star

Loews Cineplex Entertainment operates 2,600 screens at 640 locations nationwide. The company’s major stockholder is Sony and with its recent merger, the company is the third largest theater chain. Expansion plans call for 20 openings in the coming 18 months. The 94-year-old company signs 15 to 20 year leases, with options. Preferred co-tenants include sit down restaurants and leisure-based uses. Demographic requirements include a population of 250,000 within five miles earning $50,000 as the average income.

For more information, contact Kenneth Benjamin, Loews Cineplex Entertainment, 711 Fifth Avenue, New York, NY 10022; 212-833-6160, Fax 833-6267.

Sony Retail Group also operates three Magic Johnson Theaters in CA, GA and TX. The movie theaters, which are partially owned by former NBA-great Earvin "Magic" Johnson, occupy spaces of 60,000 sq.ft. in downtown areas, regional malls, power and strip centers. Plans call for five openings in the coming 18 months with expansion areas being scouted for in FL, IL, LA, MD, MI, NY, NC, OH, PA and Washington, D.C. Leases running 20 years are typical.

For more information, contact Kenneth Lombard, Sony Retail Group, 9100 Wilshire, Beverly Hills, CA 90212; 310-247-1994, Fax 247-0733.

Loeks-Star Partners, a division of Sony Theaters, operates nine Star Theaters in MI. The movie theaters occupy spaces of 100,000 sq.ft. in power centers. Plans call for three openings in the coming 18 months. Expansion will take place in FL and MI. The 13-year-old company prefers a population of 200,000 within three miles having an average income of at least $50,000. Leases running 50 years, including options, are typical.

For more information, contact Barrie Loeks, Loeks-Star Partners, 3020 Charlevoix Drive Southeast, Grand Rapids, MI 49546-7079; 616-940-0866, Fax 940-0046, e-mail star@star-theatres.com; home page www.star-theatres.com

Carmike Makes Hollywood Connection

Carmike Cinemas Inc. operates 2,780 screens at 536 locations in 33 states. Freestanding facilities of 40,000 sq.ft. are of interest for future growth. Locations are sought nationwide, with Wal*Mart being a preferred co-anchor. A 15-year primary term is the norm. Demographic requirements include a population of 75,000 within five miles earning $35,000 as the average income. The theater chain also operates a full line family entertainment concept called the Hollywood Connection at two sites in Indiana and one location in Georgia. The fourth Hollywood Connection will debut in UT. The Columbus, GA unit houses 125,000 sq.ft. on 11 acres, with an 11-screen theater, indoor roller skating rink, miniature golf, bumper cars, and a 7,000 sq.ft. arcade, a 50s theme restaurant, carousel, laser tag game, soft play structure and several motorized rides. The Hollywood Connection draws from a 50-mile radius.

For more information, contact Jerry Jarett, Carmike Cinemas, Inc., 1301 First Avenue, Columbus, GA 31901; 706-576-3435, Fax 576-3433.

RC Looking to Wow West Virginia

R/C Theaters Management Corp. trades as R/C Theaters at 19 locations in FL, MD, NC, PA and VA. The movie theaters occupy spaces of 53,000 sq.ft. to 65,000 sq.ft. in regional malls. Plans call for six openings in the coming 18 months. Expansion will take place in the existing markets as well as in WV. Leases running 10 years, with options, are typical. Irwin Cohen, director of real estate, had some interesting observations about today’s movie theaters. In speaking about stadium seating, Cohen said, "All they did was drop the balcony. Go figure. We have balconies and can’t get people to sit there." Cohen also said that his company will locate movie theaters in entertainment centers as well as regional malls. "As long as we don’t locate next to a stable full of sick horses or a pet cemetery, we are ahead of the game."

For more information, contact Irwin Cohen, R/C Theaters Management Corp.,

NEXT PAGE

ENTERTAINMENT & SPECIALTY PROJECTS 9.1998 - ESP - 9.1998 ENTERTAINMENT & SPECIALTY PROJECTS