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Leasing agents and landlords alike frequently lust over the idea of having a cinema as a high-presence tenant in their center.  After all, cinemas bring lots of people, and its therefore reasoned that those people will shop the stores before and after the movie.

But what is frequently not addressed by the leasing company and landlord is making certain that the cinema's lease terms and conditions give the landlord some authority on what films are shown and what hours they are shown. 

Consequently, oft times those coming to partronize the theaters are not the traffic that is congruent with the type of clientele that the center's retail shops need to attract.

And on top of that, what movies are showing and when have a direct and tremendous influence on the center's security. 

Dallas' premire center, NorthPark, added back a multi-screen cinema when it doubled the center's size about three years ago.  On top of that, the landlord selected a plan that allowed entrance to the theaters only from inside the mall, and further, made containment of the movie patrons after the mall stores closed next to impossible.

Security infractions have increase by about three-fold, according to an article in the current issue of D Magazine.  Recently, a mom was shot in the face by a random gunman while she was sitting in her truck waiting to pick up her child, who was there to see a movie.

So if a center must have a cinema to do well, the landlord must be able to have reasonable control over what movies are shown, the size of the theater where each feature will be shown, and all other demographic components necessary for safe and profitable crowd control.

*The spell check feature of AR has been inoperable off and on for many days.  It is off today, so please forgive any errors.

BILL CHERRY, REALTORS

DALLAS

OUR 43RD YEAR SELLING TEXAS

214 503-8563

Copyright 2008 William S. Cherry

 
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5 Comments on Reviving Shopping Centers, Rule 4

Hi Bill. Just getting into commercial real estate. Have been primarily doing residential. where does one look for the listings for shopping centers? MLS, Loopnet, ??? What do you recommend? I have a client who is inquiring into that area, as well as industrial warehouses. Thanks in advance for any help or suggestions you can offer.

05/31/2008 04:02 PM by Michael Sahlman e-PRO - Miami Beach Florida Real Estate (www.HomesForVIPs.com - Keller Williams Realty)


Hi Bill...The cinemas nowadays seem to just be self standing...there used to be quite a few in malls but we don't seem to see that anymore.

05/31/2008 09:00 PM by Joan Mirantz- Concord New Hampshire Realtor (Keeler Family Realtors)


Michael, I've always done my prospecting by just looking at the stuff that looks like it can use my help, then going after it.  There's plenty out there for those who simply call on the owners.  In fact, I've been in an out of commercial for years....it's what I do when I get tired of home sales, and vice versa.

Miss Joanie, it's odd how cinemas seem to be creeping back into the mall design in our part of America.  It requires a constant balancing act, and interestingly it is usually an excellent benefit or a horrible detriment...rarely in between.

Bill

05/31/2008 10:00 PM by BILL CHERRY (BILL CHERRY, REALTORS - DALLAS)


Hi Bill,

Our largest local mall used to have an 8 screen cinema inside of the mall. It did compromise the mall's security and after a few years the mall opted to build a separate building (detached from the main mall, however still on mall property and considered part of the mall) to house only the cinema. It seems to work much better this way.

Jo

06/01/2008 06:03 PM by Jo-Anne Smith-Belleville, Quinte and Prince Edward Region Real Estate, Ont. (Royal Lepage Proalliance Realty, Brokerage)


Bill, thanks for a security insight that many mall operators wouldn't have thought of.

06/04/2008 08:54 AM by Brian Schulman - Your Lancaster County, PA Real Estate Professional (Coldwell Banker Select Professionals)


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Real Estate Agent: BILL CHERRY (BILL CHERRY, REALTORS - DALLAS)
BILL CHERRY
Highland Park, TX
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BILL CHERRY, REALTORS - DALLAS

Office Phone: (800) 314-7110
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This is a place where the ins and outs of real estate and home ownership are discussed, as well as the restoration of historic homes and the adaptive reuse of historic downtowns. All in the light of 43 Years as a broker