Unique in-theater dining concept makes entrance into Florida market
Tampa, FL – June 3, 2014 – University Mall in Tampa will soon have a new movie theater. Studio Movie Grill (SMG), which combines first run movies with its unique in-theater dining concept, has signed a lease for 57,000 square feet in the former Frank Theatres site. The theater will open in late Q3 2014 or Q4 2014, following substantial renovations. CBRE retail broker David Conn represented the landlord, Hudson Advisors, in arranging the lease.
This is Studio Movie Grill’s first location in Florida and its 18th location nationwide. The Dallas-based operator is considered the industry leader in the in-theater dining segment, has 180 screens in eight states and is in the midst of a major nationwide expansion. A second location in Chicago, Illinois will be next up followed by a 10th in Texas.
“Studio Movie Grill is the preeminent in-theater dining operator in the country, so we are very excited they chose University Mall as its first Florida location,” said CBRE’s Mr. Conn. “The mall’s proximity to University of South Florida as well as four major hospitals makes it an ideal location for redevelopment.”
“We are looking forward to offering not only the best in in-theater dining for local residents but also to becoming a true partner in the community and providing our new Tampa neighborhood numerous economic opportunities,” said Studio Movie Grill Founder/CEO, Brian Schultz.
SMG Tampa will house an upscale theater featuring spacious auditoriums with fixed lounge seats, individual dining tables and a contemporary casual entry and bar area. The new SMG location will offer a true marriage of hospitality and lounge experiences as SMG continues to innovate fresh ideas into its concept.
“SMG is sure to be a major attraction and drive traffic to the University Mall,” added Bruce Heisler, University Mall General Manager. “The concept has historically proven to be a boon to surrounding retailers through its ability to reinvigorate the area, provide advertising 365 days a year and increase the volume of customers to nearby establishments.”
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2013 revenue). The Company has approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through approximately 350 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
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