MONTCLAIR, Calif.--(BUSINESS WIRE)--CIM Group and AMC Theatres® (NYSE:AMC) announced today they have signed a lease to bring a new AMC Dine-in Theatre to Montclair Place, a 1.2 million-square-foot regional retail, restaurant and entertainment destination in the heart of Montclair. The all new AMC DINE-IN at Montclair Place will include 12 auditoriums, along with its signature MacGuffins adult beverage concept, and will occupy approximately 55,000 square feet of a new, approximately 134,000-square-foot, two-level building being constructed on the site of the former Broadway department store. CIM has commenced demolition activities of the vacant store, which launches the next phase of the multi-phased evolution of the mall.
In addition to the AMC Theatres, the new building at Montclair Place will include 64,000 square feet of space envisioned for new restaurant and entertainment concepts, and will provide a new grand entrance to the mall. This phase of development continues the mall’s ongoing revitalization of this prominent property that is creating a modern and fresh experience inside and out.
“AMC is an exceptional movie exhibition company that expands the entertainment options and enhances our visitor experience at Montclair Place,” said Shaul Kuba, Co-Founder and Principal of CIM Group. “Securing the lease with AMC is a signature component of our repositioning program to recreate Montclair Place.”
A substantial façade improvement program recently completed features a contemporary design, with clean lines and vertical architectural details, in a warm color palette featuring natural woods, brick and stucco, which wraps around the existing JCPenney® store and Barnes & Noble® buildings on the mall’s prominent south side, facing the bustling I-10 corridor.
Improvements to the north façade of Montclair Place were also completed last year in an earlier phase of the redevelopment that included the entrance to a new food hall, Moreno St. Market, which offers a diverse array of dining options, and has become a popular gathering spot. The former food court area has been demolished and is currently being re-configured for amenity space and new retailers, while the exterior façade of that entrance also is undergoing extensive upgrades. Further, improved circulation and wayfinding through the mall has been completed including the addition of a new, more convenient, second floor entrance to Macy’s.
The multi-phased redevelopment of Montclair Place takes advantage of the mall’s exceptional position as one of the largest, most visible and easily accessed destinations in this expanding Southern California region. It is surrounded by new residences and served by a regional public transportation network including a light rail system connecting it to downtown Los Angeles and beyond.
About Montclair Place
Montclair Place is a 1.2 million-square-foot regional enclosed mall anchored by the exclusive Nordstrom in the market, along with JCPenney, Macy’s, and Sears. Montclair Place is in the heart of the Inland Empire of southern California, easily accessed from I-10 at Central Avenue. National retailers include Barnes & Noble, Sephora, H&M, Victoria’s Secret, MAC, and Forever 21. For more information, visit: www.montclairplace.com
About CIM Group
Established in 1994, CIM is a vertically-integrated owner and operator of real assets for its own account, and on behalf of its partners and co-investors seeking to invest in urban real assets, net-lease assets, and other associated credit strategies, with a principal focus on North America. CIM’s real assets include urban residential, commercial, retail, hospitality, debt, and infrastructure investments as well as U.S.-based retail and industrial net-lease. CIM’s broad expertise includes in-house research, acquisition, investment, development, finance, leasing and asset management capabilities. For more information, please visit www.cimgroup.com.
About AMC Entertainment Holdings, Inc.
AMC (NYSE: AMC) is the largest movie exhibition company in the U.S., in Europe and throughout the world with approximately 1,000 theatres and 11,000 screens across the globe. AMC has propelled innovation in the exhibition industry by: deploying more push power-recliner seats; delivering enhanced food and beverage choices; generating greater guest engagement through its loyalty program, web site and smart phone apps; offering premium large format experiences and playing a wide variety of content including the latest Hollywood releases and independent programming. AMC operates among the most productive theatres in the United States’ top markets, having the #1 or #2 market share positions in 22 of the 25 largest metropolitan areas of the United States, including the top three markets (NY, LA, Chicago). Through its Odeon subsidiary AMC operates in 14 European countries and is the #1 theatre chain in Estonia, Finland, Italy, Latvia, Lithuania, Spain, Sweden and UK & Ireland. For more information, go to www.amctheatres.com