FORT WORTH-Cinemark Holdings Inc.’s decision to open a new 14-screen theater in the mixed-use Presidio Junction in North Fort Worth illustrates the area’s desirability to retailers and entertainment concepts, according to Marc Marrocco, vice president of The Weitzman Group.
Marrocco negotiated the sale of 10 acres at the intersections of I-35W, SH 287 and North Tarrant Parkway on behalf of LNR CPI Presidio Land LLC to Cinemark for the new theater. He worked with Brian Glaser and Herb Weitzman with The Weitzman Group and Jay Jostrand of Graco.
The new theater will feature the company's new Cinemark NextGen design concept. Cinemark, which is headquartered in the Dallas suburb of Plano, plans to get started on the new project later this year, Marrocco says. The all-digital theater is slated to open in time for the 2012 summer blockbuster season.
Marrocco tells GlobeSt.com that competition for the site was fierce. He points out that North Fort Worth is one of the fastest growing residential areas in Texas, yet underserved from a retail and entertainment perspective.
“There were competing theater concepts from out of state, but Cinemark was the most aggressive,” Marrocco says. “They knew it was a good site, and they weren’t going to be challenged in their own backyard. That’s why they were aggressive and why they’ve expedited their time frame.”
Currently, residents in North Fort Worth are forced to trek to Northeast Mall in Hurst or Southlake Town Square to see a flick. “There’s a strong market out there,” Marracco says. “Other retailers that have opened stores in the area find that those are among their best performing stores.”
According to Cinemark, its NextGen theatre will offer the latest technology, cutting edge amenities and customer-preferred options all under one roof. All of the stadium-seated auditoriums will offer wall-to-wall screens, 100% digital projection and enhanced sound systems equipped with higher quality speakers and 7.1 capable digital surround sound.
Additionally, the theater will feature the Cinemark XD Extreme Digital Cinema auditorium. It will be the fourth in the Metroplex.
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