Shopping Center Business

MAY 2015

Shopping Center Business is the leading monthly business magazine for the retail real estate industry.

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152 • SHOPPING CENTER BUSINESS • MAY 2015 theater going experience and upgrade their facilities, notes Hashemi, iPic En- tertainment's CEO. "At the end of the day, we don't really look at ourselves as a movie theater," says Hashemi. "Our guests and how we view the experience is really about a night out." The company's theaters typically fea- ture eight screens with a limited number of seats, 500 to 600 total, and a standalone restaurant and bar, as well as in-theater dining options. For iPic the design of the theater and its amenities is what sets it apart from the competition, because iPic theaters really become a nighttime destination — it's a social destination for guests' nighttime entertainment, explains Hashemi. The backstory behind iPic is fairly simple. The genesis was to combine the two most popular forms of entertain- ment — dining out and movie going into one space. Through market research, the company learned that the majority of people either eat before or af- ter the movies and the idea emerged to bring that dining experience inside the theater and give people a little bit of their time back that they would have spent traveling to the theater and then a restaurant or vice versa. The company's first location in Bay- shore Town Center in Glendale, Wisconsin, proved successful and that people really enjoyed the con- cept and experience of in-theater dining options. But it was more than the novel idea of eating and watching a movie, the concept become a one-stop shop enter- tainment destination. Since then the company has been expanding its restaurant and theater of- ferings. iPic currently have three brands of restaurants — Tanzy Restaurant, City Perch Kitchen + Bar and Big Daddy's Brew & Que — as well as The Bar + Lounge at iPic and iPic Express, and the company is launching a fourth brand, Tuck Room, in its next three locations. The company targets lifestyle centers in markets that have 500,000 people within a 20-minute drive or 7-mile radius. Another important aspect is the office component of the property, as the median age of iPic guests is 33, mostly young professional stopping by for after-work happy hours or to socialize. A typical theater is 40,000 to 45,000 square feet, including an 8,000- to 10,000- i Pic Entertainment has been a leader in the in-theater dining experience since 2006, and the company currently oper- ates 11 theaters across the country and has six in the pipeline. While at Muvico Theaters, Hamid Hashemi started the concept of luxury theaters, which has become the norm. Companies are remodeling or designing new concepts with the in-theater dining in mind. Even though the industry is catching up with them, iPic Entertainment isn't de- terred. We are flattered to have inspired so many other companies to rethink the iPic Entertainment Cudahy, Wisconsin: Where business thrives… …and people love to work and play. For more information on these or additional opportunities, please contact the City of Cudahy: Brian F. Biernat Director of Economic Development/Inspections and Zoning 414.769.2215 or visit Angelic Bakehouse 22,000 sq. ft. artisan bakery The Haven Community Based Residential Facility Squire Avenue Village Second Phase Multi-Unit Apartments EZ Self Storage Mini Warehouses with Commercial/ Retail Space Component

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