Rouse Properties Announces Cinemark NextGen Theatre Featuring Luxury Lounger Recliners to Join Southland Center
Company Release – 7/02/2014
– Rouse Also Announces Plans to Commence Extensive Interior Mall Renovation This Summer –
NEW YORK–(BUSINESS WIRE)– Rouse Properties, Inc. (NYSE:RSE) (“Rouse”), a leading owner of regional malls, today announced it has entered into a lease agreement with Cinemark Holdings, Inc. (NYSE:CNK) (“Cinemark”), one of the world’s largest motion picture exhibitors, to open a 12-screen, all-digital theatre featuring Cinemark’s NextGen cinema design concept and XD auditorium at Southland Center, a leading shopping center serving Southern Wayne County, Michigan. The approximately 50,000 square foot theatre equipped with fully reclining, leather loungers is expected to open in fall 2015.
“We are thrilled to bring a premier movie theatre operator like Cinemark to Southland Center,” said Andrew Silberfein, President and Chief Executive Officer of Rouse Properties. “Cinemark’s state-of-the art entertainment complex with XD auditorium will truly revolutionize the movie-going experience for consumers in Southern Wayne County. Our strong leasing momentum continues at Southland Center, having added over 120,000 square feet of new tenants in the last 18 months including such prominent retailers Forever 21, Pink, Francesca’s, ULTA Beauty and Zumiez. We will continue to execute on our commitment of positioning Southland Center as the premier regional mall in the marketplace, with the quality of retail mix and experience that our customers demand and expect.”
“Cinemark is excited to introduce our new NextGen theatre to guests in Southern Wayne County,” commented Tim Warner, Cinemark’s Chief Executive Officer. “This new complex is scheduled to open in time for the busy 2015 holiday blockbuster season. It will boast our new Cinemark Luxury Lounger reclining chairs in all auditoriums and quickly become recognized as the best venue for enjoying a great entertainment experience.”
The new NextGen theatre will offer the latest in-theatre technology and customer-preferred amenities. The location at Southland Center will also feature an XD auditorium, Cinemark’s premier large screen concept that offers the ultimate viewing experience with an oversize, wall-to-wall and ceiling-to-floor screen and a custom JBL sound system featuring crisp, clear digital sound and the brightest digital images in 2D and RealD 3D pictures.
Rouse also plans to commence an extensive interior renovation at Southland Center this summer, further enhancing the mall’s social and shopping environment. The renovation will include a cosmetic overhaul of the mall’s common areas with the addition of new flooring, lighting, enhanced signage, soft seating and a new children’s play area. In addition, Southland Center’s two center court areas will be completely redesigned into shopping and dining concourses that will help drive foot traffic and serve as an appealing gathering place for families and the local community.
Located in Taylor, Michigan, Southland Center is the only regional mall located in the Detroit suburbs south of I-94. The approximately 900,000 square foot, single-level, enclosed shopping center is anchored by Macy’s and jcpenney and offers a diversified selection of national specialty retailers including Victoria’s Secret, Pink, Francesca’s, American Eagle, Footlocker, ULTA Beauty and Forever 21.
About Rouse Properties
Rouse Properties, Inc. (NYSE:RSE) is a publicly traded real estate investment trust headquartered in New York City and was founded on a legacy of innovation and creativity. Among the country’s largest publicly traded regional mall owners, the Company’s geographically diverse portfolio spans the United States from coast to coast.
About Cinemark Holdings, Inc.
Cinemark is a leading domestic and international motion picture exhibitor, operating 486 theatres with 5,595 screens in 40 U.S. states, Brazil, Argentina and 11 other Latin American countries as of March 31, 2014. For more information go to investors.cinemark.com.
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Source: Rouse Properties, Inc.