Cypress Equities / SRS Real Estate Partners Managed Services Spearheads Turn-Around Initiative and Phoenix Big Cinemas Named as New Movie Theatre Operator
DALLAS, July 14, 2010 – Cypress Equities / SRS Real Estate Partners Managed Services (“Managed Services”) has been designated as property manager for The Promenade Shops at Dos Lagos, a 350,000-square-foot retail lifestyle center located in Corona, Calif. Managed Services, a comprehensive suite of services specifically designed to maximize retail value, will develop and execute a turn-around plan that focuses on improving the customer shopping and entertainment experience by:
· Creating user-friendly public spaces where the community can relax and gather with friends and family on a regular basis – spaces will include a place for children to play.
· Providing the community with a variety of everyday retailers, services, unique shops and restaurants to complement the current mix of national and regional fashion and entertainment chains in the center.
· Introducing a new movie theatre operator with top movie selections and state-of-the-art upgrades. Expanding on the new and aggressive community program of events including promotions, activities and everyday entertainment at the center.
“Market realities have changed the face of retail development, which means you have to be flexible enough to listen to the new market demands and make the necessary changes in order to provide the customers what they need,” said Scott Harrington, managing principal for Cypress Equities. “Building from our extensive experience in the retail, shopping center industry and working closing with the existing shops and restaurants, we believe Managed Services will help The Promenade Shops at Dos Lagos reach its full potential.”
Part of the turn-around plan includes the introduction of a new movie theatre operator and state-of-the-art upgrades for the 15-screen theatre at Dos Lagos. The new operator is Phoenix Big Cinemas and the upgrades include Digital Projection, Digital 3D, Digital Surround Sound, expanded concessions, online ticketing, and more. Phoenix Big Cinemas Management currently manages 23 theatres with a total of 172 screens in 14 states throughout North America.
“Phoenix Big Cinemas brings a track record of high quality entertainment to The Promenade Shops at Dos Lagos,” added Harrington. “The theatre upgrades and renovations will improve the overall cinema experience while offering the Corona community top Hollywood movie selections.”
Managed Services is founded on 25 years of retail expertise and combines the management, development and leasing experience of Cypress Equities companies* with the national, regional and local retailer relationships of SRS Real Estate Partners. Managed Services offers strategic solutions in asset valuations and management, disposition consulting, property management, development services, construction management, tenant coordination, marketing services, and leasing management.
Cypress Equities
Founded in 1995, Cypress Equities companies* have offices in Dallas, Atlanta, San Francisco, New York and Fort Lauderdale. Today, Cypress Equities companies are developing and managing more than $1.3 billion in projects throughout the U.S. and Caribbean, consisting of community and power centers, as well as vertically integrated mixed-use villages that incorporate retail, residential, hotel and offices. Visit www.cypressequities.com for more information.
*The Cypress Equities name, logo and other marks are trademarks and service marks being licensed to independent operating companies by CE Brands, LLC. Any particular obligation, service or product is the sole responsibility of the specific entity that incurs such obligation or supplies such service or product.
SRS Real Estate Partners
A national brokerage firm with a local focus, SRS Real Estate Partners features teams of retail specialists in offices in every major market nationwide. Clients of SRS Real Estate Partners have a competitive edge with the full-range of services which include tenant representation, landlord representation, land brokerage, disposition services, investment services, lease administration, lease restructure and renewals and managed services.
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