Film-Tech Forum ARCHIVE: MacArthur Marketplace

This is topic MacArthur Marketplace in forum Film-Yak at Film-Tech Forum ARCHIVE.

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Posted by Jeff Leyland (Member # 1092) on 07-03-2003, 01:32 PM:

Ok Dallas area Film-Techers, anyone know the situation of this theatre? I had heard that Regal got kicked out and Marquee Cinemas is taking over. But I see nothing on the web on either Regal or Marquees web site and the theatre's recording just says the theatre closed June 30th. Anyone know when Marquee is reopening it?

Posted by Jason Burroughs (Member # 68) on 07-03-2003, 02:24 PM:

I'm not very much "in the loop" but IMHO its not in a very good location. Its a pain in the rear to get to, and once that area is developed it will not be easily seen from the highway. However it is a nice building.

Wasn't this one of the last "United Artists" theaters built before UATC was bought?

I would be suspect of Regal getting "kicked out" however if Regal felt that the building was never going to turn a profit, then it may have defaulted on its lease, allowing the owner to re-lease the building, or they may have sub-leased it to annother tennant.

Is Regal (or the former UATC unit)in Chapter 11?

[ 07-03-2003, 03:26 PM: Message edited by: Jason Burroughs ]

Posted by Mike Olpin (Member # 1115) on 07-03-2003, 02:40 PM:

Nope. Regal seems to be doing comparitively well financially speaking.

In the most recent issue of In Focus, I read that Regal is planning a few closures for underperforming theatres this year

Click here for info on Regal's current finincial status

Posted by Brad Miller (Member # 2) on 07-03-2003, 02:55 PM:

It's a nice theater but it never really made any money. It is too well hidden behind other businesses (as many underperforming UAs are). I seriously doubt Regal/UA got "kicked out". With the way the theater was performing, I'm sure they wanted to "get out" as soon as possible and probably made a super sweet deal to Marquee Cinemas to get out of the contract.

Posted by Jason Burroughs (Member # 68) on 07-03-2003, 03:30 PM:

From Regal's website at the link Mike provided:
-----------------------
Quality Theatre Portfolio - Regal Cinemas, Inc., United Artists and Edwards have invested approximately $1.9 billion in capital expenditures since 1997. As a result, we believe that we operate one of the most modern theatre circuits among major motion picture exhibitors. Approximately 61% of our screens are located in theatres featuring stadium seating. Approximately 76% of our screens are located in theatres with 10 or more screens. Our theatres have an average of 10.8 screens per location, which is well above the 2002 average of 5.8 screens per location for the North American motion picture exhibition industry.
-------------------------------

Sounds like since 1997 they have basically re-built their chain with at least 61% of the theaters being new. I'm sure they are evaluating like any business which decisions were goods ones, and getting out of the bad ones.

Posted by Adam Martin (Member # 641) on 07-03-2003, 06:40 PM:

I just posted some photos of the theater that I took back in March. It is indeed in a crappy location ... I had been to the theater before, yet I still had trouble finding the stupid thing.

MacArthur Marketplace 16 on Cinematour

Posted by Greg Pauley (Member # 503) on 07-03-2003, 10:57 PM:

I think Marquee plans on opening this ASAP, all the equipment stays in place just need to install new computer systems. I do some tech work for Marquee on the side just heard thru the grapevine. Looks like a pretty impressive building!

Posted by Jason Burroughs (Member # 68) on 07-09-2003, 11:58 AM:

From the Dallas Morning News:

Former UA megaplex leased to small West Virginia chain
Irving location marks Marquee Cinemas' 1st foray into large market

07/09/2003

By JOHN KIRKPATRICK / The Dallas Morning News

United Artists shut down its MacArthur Marketplace megaplex a week ago, but the 16 screens won't be dark for long.

Marquee Cinemas Inc. said Tuesday that it plans to reopen the plush Irving theater within the next month, perhaps as early as July 25. The name will change to Marquee Cinemas MacArthur Marketplace.

The theater will continue to show first-run movies and compete head-to-head with nearby megaplexes, said Curtis McCall, Marquee's chief executive officer and majority shareholder.

To help draw more customers, the theater will cut prices on its tickets and snacks, at least for a while, he said.

Marquee Cinemas is based in Beckley, W. Va., and operates mostly in small and midsize markets, although it is expanding into major metropolitan areas. The company's 2002 revenue totaled about $25 million, Mr. McCall said.

The company had 12 theaters with about 90 screens before adding the Irving location. The Irving theater is its largest property and its first in a major market.

Mr. McCall said the deal to lease the Irving megaplex was negotiated last fall, pending United Artists' departure. He said Marquee Cinemas is paying far less in rent than United Artists, a division of Regal Entertainment Group in Centennial, Colo.

"We were in the right place at the right time," Mr. McCall said. Marquee Cinemas has no firm plans to open other theaters in North Texas.

The 4-year-old theater, at 8505 Walton Blvd., is next to a shopping center with a Wal-Mart and restaurants. The theater and much of the nearby retail space is owned by Developers Diversified Realty Corp., based in Beachwood, Ohio.