Tuesday, June 3, 2014

O'Neill Properties Signs 85,000 SF lease with Cobb Movie Theatre

O'Neill Properties announced today that they have signed a long-term lease for a two-story 85,000 square foot movie palace, which will include a Cobb VIP theatre on the first floor and a Cinébistro on the second floor at Uptown Worthington. This theatre will be the largest luxury theatre built in the United States in the past 30 years. Both theatres will have a fully stocked bar and wine cellar, as well as fully reclining leather seats. The theatre will be modeled after the turn-of-the-century classical live theatres like the Academy of Music in Philadelphia. The Cobb Movie Theatre will include grand entrance doors separated by gas-fired lanterns with extensive neoclassical detailing on the façade. Cobb Theatre’s quality, luxury, and service generates sold out weekends, and a constant flow of customers throughout the week.

The ground floor of the Cobb Movie Palace will feature a 60 foot tall grand lobby with formal stairs and an elevator to the second floor, which will have a classic balcony overlooking the lobby and an outdoor dining balcony overlooking the Piazza at Worthington. The lobby will feature massive classical detailing coupled with the latest in full motion video display.

The second floor will feature a Cinébistro, which is the country’s only four-star in-theatre dining experience that shows movies. The staff at Cinébistro are highly trained restaurant professionals with expertise in wine selection, exotic cocktails and fine food. Each Cinébistro has a chef-inspired menu. Guests can enjoy cocktails and dinner on the outdoor balcony or dine inside the theatre. The Cinébistro will be one of the finest restaurants in the Philadelphia suburbs and clearly the finest movie theatre in Pennsylvania.

The owner of Cobb Theatres, Robert M. Cobb is a fourth generation theatre owner who has worked in the industry for over 50 years. His great-grandfather opened an Alabama theatre in 1921, which was passed onto his grandmother and then his father who built more theatres throughout Alabama. As a child, Cobb started out working the concession stands in his father’s theatres in the 1950s. Over the decades he has worked in every aspect of the business. Cobb’s vast experience in the movie business makes him an industry pioneer. “As an independent exhibitor, I learned that spectacular movie theatres, exquisite service, fine food and attention to every detail allows us to outperform the large public companies we compete with every day. Our company is built on integrity and daily focus on the customer experience. We want every guest who enters the Cobb theatre to experience the glamour of the 1920’s movie palaces mixed with today’s Hollywood splendor.” said Mr. Cobb.

The Cobb Theatre will open in October 2015 along with the Grand Opening of Phase III at Worthington. Phase III will include several restaurants, retail shops and office space. The Cobb Movie Palace joins other massive retailers who have experienced blockbuster sales at Worthington. Wegmans opened in 2010 and is currently one of the most successful grocery stores in the United States and one of the top places to work in the country. Target also opened in 2010 and is experiencing great success.

At Uptown Worthington, the developer, O’Neill Properties is focused on entrepreneurial retailers like Wegmans, Target and Cobb Theatres where sophisticated senior management tends to every detail. Over $200 million has been invested to date into Worthington by O’Neill and tenants, it is expected to exceed $500 million by completion. O’Neill is under construction for Phase II, consisting of 252 Luxury Apartments slated for completion in the Summer of 2014, which has received great attention and interest resulting in a waiting list for apartments. Phase IV of the project, the next retail development phase is in leasing with over 20 additional leases under negotiation including boutique shopping, fine restaurants and a hotel.

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