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March 30, 2011
CINEMARK ANNOUNCES 14-SCREEN THEATER FOR PRESIDIO
JUNCTION
Cinemark Holdings, Inc. (NYSE: CNK),
one of the world's largest motion picture exhibitors, announced plans to
construct a 14-screen, all-digital movie theatre that will feature the company's
new Cinemark NextGen design concept. Cinemark has entered into an
agreement to purchase 10 acres in Presidio Junction, a 300-acre master planned
mixed-use development of LNR Property LLC, located 8 miles north of Downtown
Fort Worth at the intersections of I-35W, SH 287, and North Tarrant Parkway.
Negotiations
were handled by Marc Marrocco, Brian Glaser and Herb Weitzman with The Weitzman
Group and Jay Jostrand of Graco.
Marrocco said, "The theater will be an immediate build and key to the
momentum going forward for the Presidio Junction project. We are in negotiations
with numerous other junior anchors and restaurants at this time."
Long recognized as a pioneer in the
theatrical exhibition industry, Cinemark is taking the cinema entertainment
experience to the next level. Slated to open just in time for the 2012 summer
blockbuster season, the new Cinemark NextGen theatre will offer the
latest technology, cutting edge amenities and customer-preferred options all
under one roof. All of the stadium-seated auditoriums will offer a
state-of-the-art viewing environment with wall-to-wall screens, 100% digital
projection and enhanced sound systems equipped with higher quality speakers and
7.1 capable digital surround sound. Additionally, this theatre complex will
contain an extremely popular Cinemark XD Extreme Digital Cinema
auditorium. Finally, the lobby will be designed around one of Cinemark's
innovative self-serve concession stands offering freshly-popped popcorn,
Coca-Cola fountain beverages and favorite candy brands.
The new Cinemark XD Extreme
Digital Cinema auditorium will be the fourth in the Dallas area. The XD
auditorium is the largest in the theatre complex and offers a complete
entertainment environment featuring a wall-to-wall and ceiling-to-floor screen,
plush seating and a custom JBL sound system with higher end components and 7.1
capable digital surround sound. The digital images will be delivered by a Doremi
server and a Barco DLP digital projector. The XD auditorium will exhibit the
newest movies every week, including 2D and Real D-3D pictures.
"Cinemark currently operates
nineteen theatres in the Dallas Ft-Worth Metroplex," states Alan Stock,
Cinemark's Chief Executive Officer. "We are thrilled to construct a new Cinemark
NextGen movie theatre for our customers in Ft. Worth. The state-of-the-art
design represents the next generation in cinema. We have created an
entertainment environment that offers technologically advanced amenities and a
movie-watching experience that simply cannot be duplicated. This new complex
will be a great addition to the highly anticipated Presidio Junction
development. With the infrastructure already in place, we can move very quickly
to achieve an opening next summer."
"LNR is excited that Cinemark has
chosen Presidio Junction as the location for their new 14-screen cinema.
Presidio and LNR are dedicated to providing a high quality experience to its
customers. We feel that Cinemark and their new XD auditorium will be extremely
well received and an amenity to the entire north Fort Worth community,"
states Ken Kristofek LNR Property, LLC's President, South West Region.
"Cinemark's project will kick off Presidio Junction's entertainment portion
of the development which will include other entertainment destinations together
with sit down restaurants. Cinemark helps us deliver on Presidio Junction's
theme: Meeting Real Needs for Real People."
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