Theater-Anchored Centers Booming

Theater-Anchored Centers Booming ST. AUGUSTINE, FL - Weingarten Realty Investors announced today that two Florida-based retail centers are attracting more shoppers. In spite of high gas prices, and a tight economy, theater-anchored centers are drawing more shoppers. According to widely accepted shopping behavior metrics, consumers prefer to shop for convenience oriented goods and services within a 15 minute drive of their home; however, recent experience from Weingarten's Clermont Landing and Epic Village at St. Augustine demonstrate that theater-anchored centers compel movie-going shoppers to drive 15-20 miles or more for a regional entertainment and shopping destination.

Typically, theater-anchored centers are larger in size than the average retail center, making them more convenient for busy consumers. These centers attract top retailers from round the country and offer an array of choices in department stores, sporting goods, specialty shops, restaurants and other businesses – in addition to entertainment, which makes them a popular one-stop shopping destination for area residents.

"We closely monitor the foot traffic in our centers," said Terry R. Marks, regional development director for Weingarten Realty Investors. "Currently, we have two Florida centers that are anchored by Epic Theatres – Clermont Landing and Epic Village at St. Augustine. Despite the recession, these theaters are drawing customers that live 15 to 20 miles away from the centers, and these theaters are averaging 10,000 in ticket sales each week. If this trend holds, each theater could host more than 500,000 visitors a year. In terms of foot traffic, this demonstrates huge revenue potential for retailers in these theater-anchored centers."

Clermont Landing, a 341,494 square foot regional center, is located a few blocks southeast of US 27 and SR 50 in the city of Clermont. Named by Florida Trend Magazine as the epicenter of Florida's sports tourism, Clermont has become a prime shopping destination. With easy highway access to US 27 from Steve's Road, Clermont Landing offers a variety of choices for shopping, dining and entertainment. Anchored by a 16-screen Epic Theatre, the center is home to some of the nation's most popular department stores including JCPenney, Ross Dress for Less®, Hibbett Sports®, T.J. Maxx, Michaels, Famous Footwear, rue21 and maurices, among others. The center also has a number of excellent national restaurants such as Olive Garden and Red Lobster.

Epic Village at St. Augustine, a 60,738 square foot regional entertainment center, is the retail entertainment focal point of the greater St. Augustine market, which attracts approximately 6.5 million visitors each year. Strategically located at the corner of State Road 207 and Rolling Hills Drive, the center boasts a variety of specialty shops, restaurants and family entertainment. In addition to the 16-screen Epic Theatre complex, the center is also home to Papa's Grill, McDonald's, with the newest McCafé concept, SunDaze Tanning, South Pole Creamery and DeLeon Pizza. The closet theatres are 50 miles south to Daytona and 20 miles north to Jacksonville.

Offering state-of-the-art movie entertainment, Epic Theatres are equipped to show multiple full-length movies in individual theaters. Each theater has stadium-seating with cupholder armrests that can accommodate 75 to 300 people; and, several of the theaters in Clermont Landing and Epic Village have 3-D capability. Featuring uncompressed digital six-channel audio coupled with Dolby® Digital signal processing, every auditorium has clear, dynamic, distortion-free audio for lifelike special effects. The concession area gives free refills on large fountain drinks and popcorn, and a custom-designed gaming area allows guests to relax while before or after the movie. Epic Theatre also has two birthday rooms for parties of up to 60 children, offering movies and refreshments for children and adults. And special amenities such as EPIC Guest Services, advance credit card ticket sales, in addition to four automated box offices (ABO's) make going to the movies more fun, convenient and enjoyable.

Clermont Landing is a joint venture partnership between Weingarten Realty, Developers Realty and Epic Theatres and Epic Village at St. Augustine is a joint venture partnership between Weingarten Realty and Epic Theatres.
Source: Weingarten Realty Investors

More Stories

Get The Newsletter

Get The Newsletter

The latest multifamily industry news delivered to your inbox.