VAN NUYS, CA, July 25, 2011 – Decron Properties, a diversified real estate investment company, has announced that it has signed a 10-year, 72,200-square-foot lease with Regency Theatres to serve as theater operator at The Plant, a 367,000-square-foot power retail center located at 7888 Van Nuys Blvd. in Van Nuys, Calif. The Plant 16 Cinemas’ is Regency’s third San Fernando Valley location and 25th theater location.
“Regency Theatres is excited about operating in such a thriving Shopping Center as The Plant and vibrant trade area of Van Nuys”, says Lyndon Golin (middle right photo), President of Regency Theatres.
“With its nearby Granada Hills location, Regency can leverage promotion and offer more diverse film product offerings in the marketplace. Some of the new amenities Regency will offer are D-Box Motion Seating, additional 3D Screens and films available in Spanish Subtitles.”
“We are very excited to have Regency Theatres, one of the premier movie operators in Southern California, join the outstanding line-up of retailers at The Plant”, says Daniel Nagel, Associate Commercial Leasing Director for Decron Properties.
“Regency Theatres’ decision to locate their largest theater at The Plant is a further testament to The Plant’s superior position within the Van Nuys trade area which includes more than 350,000 people living within a 3-mile radius. It is not often that a shopping center loses a 72,200 anchor and is able to replace the tenant without closing the operations for even one day of business.”
Built in 1998 and acquired by a Decron Properties affiliate in 1999, The Plant is located on the site of a former General Motors plant, and includes a 367,000-square foot shopping center and 550,000 square feet of industrial space near the intersection of Van Nuys Blvd. and Roscoe Blvd. The shopping center is 99.5 percent occupied and, in addition to Regency Theatres, is anchored by Home Depot, Babies R Us, Ross Dress for Less, Michael’s, and Anna’s Linens.
Contact: David Ebeling, Ebeling Communications, (p) 949.861.8351
(c) 949.278.7851, david@ebelingcomm.com
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