Theater-Anchored Shopping Centers Paying Off for Weingarten in Florida

CLERMONT, FL—Despite lower June sales reported by almost every national retail chain, Houston, TX-based Weingarten Realty Investors states two of its Florida properties are prospering in the 20th month of the Recession.

The reason: The 341,494-square-foot Clermont Landing (bottom left photo) at Clermont and the 60,738-square-foot Epic Village (top right photo) at St. Augustine are anchored by theaters which are bringing customers from a 15-mile to 20-mile radius.

“We closely monitor the foot traffic in our centers,” says Terry R. Marks, regional development director for Weingarten Realty Investors.

“Currently, we have two Florida centers that are anchored by Epic Theatres (based in DeLand, FL, middle left photo)– Clermont Landing and Epic Village at St. Augustine. Despite the recession, these theaters are drawing customers that live 15 to 20 miles away from the centers, and these theaters are averaging 10,000 in ticket sales each week.

“If this trend holds, each theater could host more than 500,000 visitors a year. In terms of foot traffic, this demonstrates huge revenue potential for retailers in these theater-anchored centers.”

Clermont Landing is home to JCPenney, Ross Dress for Less®, Hibbett Sports®, T.J. Maxx, Michaels, Famous Footwear, rue21 and maurices, among others.

The center also has a number of restaurants such as Olive Garden and Red Lobster.

Epic Village at St. Augustine is the retail entertainment focal point of the greater St. Augustine market, which attracts approximately 6.5 million visitors each year.

Strategically located at the corner of State Road 207 and Rolling Hills Drive, the center boasts a variety of specialty shops, restaurants and family entertainment.

In addition to the 16-screen Epic Theatre complex, the center is also home to Papa’s Grill, McDonald’s, with the newest McCafé concept, SunDaze Tanning, South Pole Creamery and DeLeon Pizza.

The nearest theatres are 50 miles south to Daytona and 20 miles north to Jacksonville.

Clermont Landing is a joint venture partnership between Weingarten Realty, Developers Realty and Epic Theatres.

Epic Village at St. Augustine is a joint venture partnership between Weingarten Realty and Epic Theatres.