Human Rights Day >> CB Richard Ellis Retail Services Representing Interstate Theatres in National Expansion

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Date: 2004.05.16 10:00:22
Category: Real Estate
From: Anne Monaghan
Company: Monaghan Communications
Phone: 949-722-2933

CB Richard Ellis Retail Services Representing Interstate Theatres in National Expansion

(PRLEAP.COM) CB Richard Ellis Retail Services Representing
Interstate Theatres in National Expansion

TORRANCE, CA - CB Richard Ellis Retail Services, a division of CB Richard Ellis, the world market leader in real estate services and the exclusive real estate representative for Interstate Theatres, announces that Interstate Theatres is aggressively searching for new locations nationwide.

Interstate Theatres, based in Plano, Texas, offers recently released films at discounted prices. Currently, Interstate Theatres operates 25 multiplex theater locations throughout California, Texas, Oklahoma, Colorado, Indiana, Florida, Nebraska, Ohio, and Arkansas. In 2003, Interstate Theatres opened three multiplex locations in California and one in New Jersey. The company’s theater locations range in size from 10,000-85,000 square feet and have four to 16 screens per location.

Interstate Theatres will either lease or purchase former theater locations or existing under performing theaters. Interstate Theatres has shown flexibility in either building out existing theatres or the landlords will turnkey the premises. The cost of build-out for Interstate Theatres typically ranges from $250,000-$500,000.

According to Richard Rizika, Senior Vice President of CB Richard Ellis Retail Services in Torrance, "Interstate Theatres is proven, successful, and a professional theater operator. They provide Landlords with solutions for difficult to lease former theater locations.’

Rizika leads a team of retail sales professionals based in Los Angeles County. He has grown the team to include nine retail real estate specialists, each independently focused on either landlord or retailer representation.

Currently, Rizika and his team are responsible for the sale and leasing of more than nine million square feet of retail space in Los Angeles County on behalf of their clients. Last year, the team sold shopping centers with a total consideration in excess of $150 million. Additional retailers his team represents include Target, Office Depot, CVS, and Crate & Barrel to name several.

To submit potential theater locations for Interstate Theatres nationally or for any additional real estate information pertaining to Interstate Theatres, please contact either Richard Rizika or Greg Hinds at (310) 516-2300.

About CB Richard Ellis

Headquartered in Los Angeles, CB Richard Ellis is the world’s leading commercial real estate services firm. With approximately 14,000 employees, the company serves real estate owners, investors and occupiers through more than 250 offices worldwide. The company’s core services include property sales, leasing and management; corporate services; facilities and project management; mortgage banking; investment management; capital markets; appraisal and valuation; research; and consulting. For more information, visit the company’s Web site at www.cbre.com.

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