Douglas Theatres, Prairie Life Fitness Commit to 15-year Leases
(OMAHA, Neb. – June 21, 2007) – Mutual of Omaha and developer ECI Investment Advisors, Inc., today announced the signing of Douglas Theatres, the largest movie theatre chain in Nebraska, and Prairie Life Fitness, one of the nation’s leading operators of upscale health and fitness clubs, as two of the anchor tenants for Midtown Crossing at Turner Park, a $300 million mixed-use urban development underway in Midtown Omaha.
“We are pleased to have Douglas Theatres and Prairie Life Fitness join the Midtown Crossing family,” said Mutual of Omaha Senior Vice President, Administration John McClelland. “We are eager to move forward with our vision for a revitalized Midtown. These two organizations certainly share in this vision and will be wonderful additions to the neighborhood.”
“Douglas Theatres and Prairie Life Fitness are both Nebraska-based businesses,” noted ECI Executive Vice President Keith Bawolek. “They are deeply-rooted in Omaha and have impeccable reputations in the community. We are delighted that they have chosen to be a part of Midtown Crossing.”
Douglas Theatres will occupy approximately 49,500 square feet at Midtown Crossing, operating a 1,000 seat, five-screen theater off of Farnam Street. Plans include a mezzanine-level bistro restaurant and bar within the complex. The theater area will also include premiere, reservation-only balcony area that will allow theatergoers age 21 and over to relax and enjoy spacious seating with in-seat dining and cocktail service before and during each featured film. All theatres will be equipped with wall-to-wall screens, digital sound and digital projection systems with 3-D capabilities.
“Our intention is to keep the theatre rather small in scale, but with an abundance of amenities that cater to the savvy, sophisticated cinemagoer,” said Douglas Theatres CEO and President David Livingston. “The movies we plan to show and the ambiance in which they will be shown we feel will lend itself nicely to Midtown Crossing’s target market.”
Prairie Life Fitness will mark its third Omaha location at Midtown Crossing. With just over 31,000 square feet, the club will feature a full-service health and fitness facility complete with indoor running track, cycling studio, mind-body studio and numerous group fitness and personal training opportunities. The new location will be located off of Farnam Street, and will be particularly designed to focus on the Midtown Crossing market and the area’s thriving business community. Prairie Life’s signature first-class locker rooms, massage, snack bar and nursery are also other planned amenities for the club.
“We saw an underserved market, an aggressive project and a location that was primed for redevelopment,” said Prairie Life Fitness Director of Marketing Jennifer Mahlendorf. “It all seemed a perfect fit for us, and we are very much looking forward serving our new Omaha community.”
With demolition now complete, construction on Midtown Crossing is set to begin this fall. Anchored by an expanded and revitalized Turner Park, the project includes more than 1 million square feet, occupying 15 acres just east of Mutual of Omaha. The site is bordered by 31st and 33rd streets, and by Dodge and Harney streets. Cope Linder Architects, a Philadelphia-based firm, is the project’s design architect, with Omaha firm Holland Basham Architects serving as the executive architect.
The development will include a total of seven buildings with more than 220,000 square feet of leasable space for restaurants, retail and entertainment venues along with 600 condominium, apartment and corporate extended-stay units, and the addition of above- and below-ground parking for more than 3,000 vehicles. Midtown Crossing is scheduled for completion fall of 2009.
Along with the addition of the multi-screen movie theater and health club, plans for Midtown Crossing include an urban grocery store, a variety of pedestrian-friendly retail and specialty food establishments, as well as a mix of casual and destination dining and entertainment venues.
“We continue to be very encouraged by the positive response to this project,” said CB Richard Ellis Vice President Nancy Johnson, the retail leasing agent for Midtown Crossing.
“With all of the development going on around the city, Omaha is a market that national retailers are keeping a close eye on right now.”
For more information on Midtown Crossing at Turner Park and to sign up for project updates, please visit www.midtowncrossing.com.
About Mutual of Omaha Mutual of Omaha is a full-service, multi-line organization providing insurance and financial products for individuals, businesses and groups throughout the United States. For more information about Mutual of Omaha, visit www.mutualofomaha.com.
About ECI Investment Advisors, Inc. ECI Investment Advisors, Inc., is a privately held commercial real estate company providing municipalities, financial institutions, REITs and private investors with a wide array of investment, development and advisory services. For more information on ECI, visit www.eciadvisors.com.
