Jun 18 2014
Movie Tavern, the leader in the cinema eatery segment, has announced plans today to begin construction of a new eight-screen theatre in Flourtown, PA. Scheduled to open in early 2015, this state-of-the-art facility will join the Providence Town Center Movie Tavern in Collegeville, PA, as the company’s second location in the Delaware Valley.
“We are very excited to bring Movie Tavern to Flourtown, as part of our plan to increase our presence in the Philadelphia market after we found such tremendous success in Collegeville,” said John H. Hersker, President and CEO of Movie Tavern. “We look forward to providing families in Flourtown and surrounding cities the movie-going experience they deserve with offerings that merge both cutting edge technology and modern convenience with great value.”
Movie Tavern specializes in creating an in-theatre dining experience that utilizes a chef inspired menu and offerings from a full bar, where guests can order food and drinks from their seats throughout the show. Full food and beverage service are also available in the lobbies’ sizable bar area. Features of the new build will also include luxury reclining loungers in every auditorium and all-reserved purchase seating.
“Movie Tavern has already proven itself to be a favorite entertainment destination in the Philadelphia area and we at Federal Realty are tremendously excited to have partnered with the company in bringing their premier movie theatre experience to such a thriving community,” said Lance Billingsley, Director of Anchor Tenant Leasing for Federal Realty Investment Trust.
The theater will be located in the Flourtown Shopping Center at 1842 Bethlehem Pike, in Flourtown, Pennsylvania. For updates on construction and more information on Movie Tavern, please visit www.movietavern.com.
About Movie Tavern
Founded in 2001, Dallas-based Movie Tavern is a leader in the cinema eatery segment catering to adults and families with 17 high-quality theatres and 141 digital screens in seven states.
In September 2013, Movie Tavern was acquired by New Orleans-based Southern Theatres, a portfolio company of Veronis Suhler Stevenson (VSS), a leading private equity firm. With the acquisition of Movie Tavern, Southern Theatres became the eighth largest theatre company in North America.
About Federal Realty
Federal Realty Investment Trust is an equity real estate investment trust specializing in the ownership, management, development, and redevelopment of high quality retail assets. Federal Realty's portfolio (excluding joint venture properties) contains approximately 20 million square feet located primarily in strategically selected metropolitan markets in the Northeast, Mid-Atlantic, and California. In addition, the Trust has an ownership interest in approximately 1.0 million square feet of retail space through a joint venture in which the Trust has a 30% interest. Their operating portfolio (excluding joint venture properties) was 95.6% leased to national, regional, and local retailers as of March 31, 2014, with no single tenant accounting for more than approximately 3.3% of annualized base rent. Federal Realty has paid quarterly dividends to its shareholders continuously since its founding in 1962, and has increased its dividend rate for 46 consecutive years, the longest record in the REIT industry. Federal Realty is an S&P MidCap 400 company and its shares are traded on the NYSE under the symbol FRT.
Source: http://www.movietavern.com/