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Theater Xtreme to Expand into Super-Regional Mall Sites in Two States

Posted on: Thursday, 13 March 2008, 12:00 CDT

Theater Xtreme Entertainment Group, a specialty retailer of real movie theaters for the home, has announced its plans to expand into super-regional mall sites in the states of Pennsylvania and Florida.

Theater Xtreme has executed a letter of intent (LOI) with Pennsylvania Real Estate Investment Trust for lease of a new store location at its re-vitalized Plymouth meeting mall in Plymouth Meeting, Pennsylvania. The non-binding agreement calls for a 10-year lease of approximately 3,700sqft.

Additionally, Theater Xtreme has executed two LOIs with Taubman Centers, for the lease of two new store locations - one for 3,000sqft at Dolphin Mall, Miami, Florida, and another for 3,800sqft at The Mall at Wellington Green, West Palm Beach, Florida. The non-binding agreement calls for 10-year leases on each property.

Scott Oglum, CEO of Theater Xtreme Entertainment Group, said: "This expansion plan gives us access to high traffic venues and increased exposure at some of the best malls in the US. We are looking forward to these new occupancies and believe that we will bring a powerful value proposition to the tenant mix and consumers."

Source: Datamonitor

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