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Twin Cities Movie Theaters Go Through Boom-Bust Cycle

MINNEAPOLIS-As four new megaplexes are under construction, the Twin Cities has seen 10 theater complexes close in recent years. Colliers Towle Real Estate Co. offers specifics and reasons for the overbuilding.

By Jim McCartney | Updated on March 09, 2001

MINNEAPOLIS-More than 10 theater complexes in the Twin Cities have closed in the last couple of years, and movie industry officials believe there will be plenty more to go dark in the next year or two. Meanwhile, development of new megaplexes is forging ahead, according to a recent report from Colliers Towle Real Estate Co. of Minneapolis.

Mega-Star Cinemas has two 16-screen theaters under construction at Arbor Lakes in Maple Grove, MN, and Southdale Center in Edina, MN, while Crown Theater is building a 17-screen complex in Downtown Minneapolis as part of Block E and AMC is building an 18-screen theater in Eden Prairie Center in Eden Prairie, MN.

In 1998, the Twin Cities saw 108 new screens added to the market, a more than 42% increase in total movie screens, according to Colliers Towle. Many of the new screens were of the megaplex variety, with stadium seating, enhanced audio and video and the works. The trend continued in 1999, as 144 more screens were added to the market or were under construction.

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