Warwick, RI KeyPoint Partners (KPP) negotiated a new lease for its expanding cinema client Apple Cinemas, a flagship location at Warwick Mall. Apple Cinemas will replace the former Showcase Cinema at 400 Bald Hill Rd., which closed in April. Vice president of leasing/tenant rep Don Mace negotiated the deal for the 52,048 s/f cinema.
“Apple Cinemas will bring high quality family entertainment to the Warwick market, providing a greatly enhanced movie-going experience than the former operator,” Mace says.
Apple Cinemas is very bullish on the future of the cinema industry. KPP is seeking sites throughout the U.S. to develop new cinemas or re-brand existing ones, with a goal of opening 100 cinemas during the next decade.
KPP has since negotiated a new lease that secures four new locations for its expanding cinema client Apple Cinemas. Apple Cinemas will replace Cinemagic at two locations in Maine and two in New Hampshire. Mace negotiated the transactions.
The new Apple Cinemas sites include former Cinemagic locations at 779 Portland Rd., Saco, ME, 183 County Rd., Westbrook ME, 1226 Hooksett Rd. Hooksett, N.H., and 11 Executive Park Dr., Merrimack, N.H.
“Apple Cinemas values its growing relationships with major institutional ownership groups, and is pleased to have completed this master lease with the dominant entertainment landlord operating in the U.S. Apple Cinemas is sensitive to the good will established by the prior operator, and will continue to offer high quality family entertainment at each of these locations,” Mace said.
Apple Cinemas is very bullish on the future of the cinema industry. KPP is seeking sites throughout the U.S. to develop new cinemas or rebrand existing ones and drive Apple Cinemas’ national expansion.
“Apple Cinemas is a high-quality, technology-driven theater operator that will absolutely drive foot traffic to any center,” Mace said. “We prefer sites between 30,000 - 65,000 s/f with a 22-foot ceiling height (27 feet for Imax). We’re focused on converting existing cinemas but all sites will be considered.”
Apple Cinemas will soon operate 12 cinemas with a total of 127 screens throughout the U.S. Since 2010, Apple Cinemas has provided premium entertainment experiences at exceptional value, with luxury stadium recliner seats, digital projection and sound, and self-serve snack bars in a family-friendly environment. Apple Cinemas presents varied and dynamic programming featuring popular blockbusters, art films, and foreign films in several languages.