Eastern Consolidated Arranges Lease for 348-Seat iPic Theater in Nassau County
NEW YORK, NY – June 7, 2018 – Eastern Consolidated’s Brad Cohen and Jon Kamali, exclusive tenant reps for iPic® in New York, have arranged a lease for a 348-seat luxury iPic® theater in Hicksville, Long Island directly with the property owner, Seritage Growth Properties. This will be the first Nassau County lease for iPic®.
The theater, which will include a bar/restaurant, is planned to open at Seritage Growth Properties’ premier development property, Heritage Village, in the coming years. The reimagined mixed-use destination will replace the former Sears store located at 195 North Broadway.
“We’ve been evaluating opportunities for iPic® for several years and found the perfect location in a former Sears store on Long Island that is being redeveloped into a mixed-use project with iPic® as an anchor,” Cohen said. “We’re actively engaged in identifying additional locations for iPic® in the New York metropolitan area.”
“We are excited to bring a new experience to Nassau County residents and become a significant part of Seritage’s development project, which will add enduring value to the community. As one of the top-ranked communities in the country, our new theatrical escape will be able to provide even more high-quality dining and entertainment options to residents and visitors. Our cornerstone presence will provide the area with a quality experiential destination for arts and culture under one roof,” Hamid Hashemi, CEO and Founder of iPic® Entertainment, said in the company’s press release.
Located just a few blocks north of the Long Island Rail Road Hicksville Station, Heritage Village will transform the former Sears store into a mixed-use, transit-oriented development with modern rental apartments that will sit above a diverse collection of growing retailers and leading dining, entertainment and fitness concepts. iPic® will serve as the entertainment anchor of this unique project and will deliver the first affordable luxury, full-service theater and restaurant experience to the community. The restaurant/bar component of iPic®’s site at Heritage Village will be designed by iPic® Entertainment COO Sherry Yard - an acclaimed three-time James Beard award-winning Chef. A full-service bar will offer an exclusive menu of handcrafted cocktails, presented by award-winning mixologist and master sommelier Adam Seger.
“We are excited iPic Theaters has chosen to open its first location in Nassau County, and third in the state of New York, at our reimagined Hicksville property,” Benjamin Schall, President and Chief Executive Officer of Seritage Growth Properties. “The addition of iPic aligns with our plan to bring leading, first-to-market retail, dining and entertainment concepts to our mixed-use development. We will continue to work in close collaboration with the Town of Oyster Bay and local stakeholders to deliver an exceptional project to the community.”
The new iPic® at Heritage Village will bring a luxurious theatrical escape with eight auditoriums and seating between 32 and 60 in an intimate setting. In addition to viewing the latest Hollywood blockbusters, members and guests will be able to enjoy alternative content such as live shows including magic, comedy, along with gaming competitions and other iPic® experiential ticketed events. Guests will enjoy their experience in ultimate style in the comfort of iPic®’s patent-pending Premium Plus fully reclining leather seating Pods that include courtesy personal pillows and blankets. At the touch of a button, guests can summon ninja-like servers to deliver a signature dine in the dark menu by Sherry Yard in addition to a farm to glass beverage menu by iPic® Master Bartender and Advanced Sommelier Adam Seger. iPic®’s auditoriums will be equipped with 4K digital cinema technology and all seats may be reserved ahead of time on iPic®’s proprietary reservation system by visiting iPic.com or downloading the iPic® app.
Access iPic Membership Rewards®, iPic’s exclusive membership program will further enhance the iPic® guest experience by empowering iPic® members to customize and build their brand experience via three levels of Access—Silver, Gold, Platinum—and an invitation-only level. Members will receive special members-only ticket pricing along with enhanced perks such as the ability to earn and redeem points on qualifying purchases, exclusive access to iPic® member events and the ability to purchase bulk iPic® ticket packages. To become an iPic® member, please visit www.ipic.com
For more information on iPic® Theaters, please visit www.ipic.com.
Powered by a highly skilled team of over 100 brokers with a fluency in 15 languages, Eastern Consolidated is one of the country’s preeminent full-service commercial real estate firms. Through three core divisions—Investment Sales, Capital Advisory, and Retail Leasing—Eastern Consolidated serves an impressive roster of international and domestic institutional and private investors on real estate transactions of all sizes and across all property types. For more information, visit www.easternconsolidated.com and follow us on Twitter@EasternConsol.
About iPic® Entertainment
Established in 2010 and headquartered in Boca Raton, FL, iPic® Entertainment is America’s premier luxury restaurant-and-theater brand with over 1.8 million brand-loyal moviegoing members. A pioneer of the dine-in theater concept, iPic® Entertainment’s mission is to provide visionary entertainment escapes, presenting high-quality, chef-driven culinary and mixology in architecturally unique destinations that include premium movie theaters and bar/restaurants. iPic® Theaters exclusively features Premium Plus patented viewing Pods and Chaise lounge reclining seating options. iPic® Theaters currently operates 15 locations with 115 screens in Arizona, California, Florida, New Jersey, New York, Texas, Washington and new locations planned for Florida, Texas, Georgia, California and Connecticut. For more information, visit www.iPic.com.
About Seritage Growth Properties
Seritage Growth Properties is a publicly-traded, self-administered and self-managed REIT with 225 wholly-owned properties and 24 joint venture properties totaling approximately 39 million square feet of space across 49 states and Puerto Rico. The Company was formed to unlock the underlying real estate value of a high-quality retail portfolio it acquired from Sears Holdings in July 2015. Pursuant to a master lease, the Company has the right to recapture certain space from Sears Holdings for retenanting or redevelopment purposes. The Company’s mission is to create and own revitalized shopping, dining, entertainment and mixed-use destinations that provide enriched experiences for consumers and local communities, and create long-term value for our shareholders.
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