Wednesday, June 27, 2012

AMC Theaters Switching Sides...





...of North Point Parkway

The former PARISIAN store at North Point Mall in Alpharetta will soon be demolished and replaced with an AMC Theatres.  Kansas City-based AMC Theatres currently operates a the14-screen Mansell Crossing on North Point Parkway but it will likely be closed when the new theater opens.  I say likely, as no definitive answer was available but my guess would be that the older theater closes ahead of the new opening.

AMC says their new theatre will feature luxury seating, a "Marketplace" conession area and 100% digital projection.  This "Marketplace" concession model is also being installed at AMC Phipps Plaza 14 in Buckhead.  AMC is contemplating the addition of MacGuffin's bar and possibly an IMAX theater as well.  Again I say contemplating, but I think both of these amenities will be instituted at the new theater.

Chinese conglomerate Dalian Wanda Group purchased AMC last month for $2.6 billion and said at the time is was dedicating $500 million to making the company bigger not only domestically, but in the global market as well.  At the time of the purchase, AMC was recognized as the second largest theater chain in North America with over 5,300 screens.  The purchase is the largest Chinese takeover of an American company to date.

This won't be the first time AMC has replaced a mall anchor store.  AMC North DeKalb Mall 16 replaced a shuttered Phar-Mor store in the early 90s.  Unlike the complete demolition and new construction that will occur at North Point, the existing structure at North DeKalb was used for the AMC Theatres.  To this day, mall patrons can see the former loading dock bays from the Phar-Mor days.

AMC also operates IMAX screens at Stoncecrest 16, Southlake 24, and Forsyth 12.  Regal Cinemas has IMAX locations at Mall of Georgia, Atlantic Station 16 and Augusta Exchange 20.  Fernbank Museum of Natural History also features an IMAX screen.

AMC opened their 12-theatre Avenue Forsyth location spring 2008, and was in talks to open in Prospect Park Avalon but apparently Knoxville-based Regal Entertainment Group will open instead.  Avalon is being developed by North American Properties, the managers of Atlantic Station, already home to a Regal Cinemas location.  As a former Regal Cinemas employee, I try and stay up on the goings-on of the company.  Sources tell me it's not yet been decided whether Regal's current 8 theaters on North Point Parkway will stay open after the new Avalon location opens but if it does, it will likely be rebranded into something akin to the Tara theater on Cheshire Bridge Road, catering to small and / or artsy films that most larger theaters would not show.

General Growth, owner of North Point Mall, as well as Cumberland Mall in Cobb county and Perimeter Mall in Dunwoody, has been creative (and fortunate) in being able to fill large anchor size spaces with new tenants.  At Cumberland, Costco replaced a shuttered JCPenney in 2006 and a Davison's Macy's was demolished in 2006 to create a "lifestyle center area" where new restaurants and retailers were added.  At Perimeter Mall, a shuttered JCPenney was demolished in 2005 and replaced with a Dillard's.  Also at Perimeter, the former Davison's store that became Bloomingdale's in 2003, is to become a new Von Maur late this fall.

North Point saw the closure of three anchor stores within four years.  Lord & Taylor exited the Atlanta market in 2005 and left large vacancies at a number of metro malls.  In North Point Mall, the space was replaced with Belk in the fall of 2007, but by the fall of 2009, it too, had closed.  Von Maur opened in place of Belk this past fall.

Where is your favorite theater to catch a film?   What part of town is underserved when it comes to theaters?       What is the most you will spend to watch a film in a theater? Please share your thoughts in the comment section below.  

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4 comments:

Lee at rootsinalpharetta.com said...

Good article. A few things though...

I don't know that I would call this a complete demolition. From what I understand the shell of the building will remain. The interior is being completely gutted. I believe that process may be underway now.

It'll be interesting to see what happens to Mansell Crossing once AMC leaves (and I believe they will). Will Barnes & Noble take off, perhaps to Avalon? Will new tenants emerge? The rest of the retail in this part of North Point is going strong with low vacancies.

Atlantan99 said...

Hey Lee,

Thanks for the comment. I was told the entire building would be demolished ( unlike what happened at N.DeKalb, where the shell was used.

This info was backed by this .... http://www.ldiline.com/home.cfm?id=26606

Thanks for reading as always.

Eli

Anonymous said...

Last time that I looked(an hour or so ago) There were no signs, fences, or machines anywhere nearby to even give the appearance that something was going on.
If AMC does close up the old spot after the the new one is built, I believe that Barnes and Noble will leave ASAP. Avalon would be good for B&N. The current store is small and dark compared to newer stores like the one in Forsyth. Unless someone comes in to fill those to buildings, there will be a very BIG void left on the corner of Mansell and North Point Parkway. There is already a big empty building acroos the street in the old Chammps location.
I wonder if something different for the area, like an Eatzis http://www.eatzis.com/ would do good in the area?


Glen

Anonymous said...

I think it will be great if North Mall gets a theater. Good for the mall. The ones across the street are pretty dated. But with that said I hope the whole North Point area survives. It's not that old. I hate it when all the stores leave like what happened in Gwinett.
My favorite place to see a movie is the Shallowford Regal 24. That is a great theater. I will pay the going rate for a movie....like the theater experience rather than watching at home.