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AMC Readies for Third Austin Theater
AMC Entertainment Inc. is planning to open its third Austin-area theater. The Leawood, KS-headquartered AMC is partnering with Seritage Growth Properties in New York City to launch a 10-screen theater in Northeast Austin’s Tech Ridge area. Seritage acquired the property in 2015, as part of a $2.7 billion deal that brought it 230 Sears stores nationwide.
A 172,000-square-foot Sears Grand store currently sits on the 25-acre site at Palmer Lane and Interstate 35. According to a master-lease agreement, Seritage has the right to recapture space from Sears Holdings at each property for new tenants or redevelopment.
The 45,000-square-foot AMC theater will offer a MacGuffins Bar & Lounge, which offers moviegoers a place to go for drinks. Construction on the theater will begin in late 2017, with completion anticipated in 2019.
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