Monday, August 24, 2009

MARCUS THEATRES® Signs Agreement to Purchase 16 Acres in Sun Prairie (Press Release)

Company pursuing alternate options for new Madison-area entertainment destination

For additional information, contact:
Carlo W. Petrick
(414) 905-1505

Milwaukee, Wis., August 24, 2009 - Marcus Theatres® today announced it has signed an agreement to purchase approximately 16-acres of land in the Prairie Lakes development in the city of Sun Prairie. The 100-acre development is located at the Northwest quadrant of County Highway C and U.S. Highway 151. The development will contain a mix of retail, restaurants, hotels and entertainment venues and is being developed by Prairie Development Ltd, a Madison-based company.

Marcus Theatres is considering a megaplex entertainment destination to replace its existing Eastgate Cinema property, which will remain in operation until the new theatre opens. The new entertainment destination would feature 16 movie screens, including a 70-foot-wide signature UltraScreen®, in-theatre dining and a full-service restaurant and bar.

“The Prairie Lakes development is one of two sites in the Madison-area we are contemplating,” said Bruce J. Olson, president of Marcus Theatres. “The Prairie Lakes site offers excellent visibility and accessibility and inclusion in a high-quality development. A final determination has not yet been made, but this site does offer additional options and flexibility for building an entertainment destination our guests will enjoy without the added challenge and financial risk of developing the surrounding property ourselves, which would be required with the other site,” added Olson.

The company still has an option to purchase the 26-acre site, known as “The Crossing” at Nelson Road and Highway 151 on the east side of Madison. The company has obtained approval from the Urban Design Committee, City of Madison Planning Commission and the City Council on the general development plan, but has not yet begun the second round of approvals required on the specific implementation plan.

About Marcus Theatres
Marcus Theatres®, a division of The Marcus Corporation (NYSE: MCS), is the seventh largest theatre circuit in the United States and currently owns or manages 663 screens at 53 locations in Wisconsin, Illinois, Iowa, Minnesota, Nebraska, North Dakota and Ohio, and one family entertainment center in Wisconsin.

About The Marcus Corporation
Headquartered in Milwaukee, Wisconsin, The Marcus Corporation is a leader in the lodging and entertainment industries. In addition to its Marcus Theatres division, the company’s lodging division, Marcus Hotels and Resorts, owns or manages 20 hotels, resorts and other properties in ten states. For more information, visit the company’s web site at

No comments: