Dave & Buster's announces venture with Southern California retail outlet mega-mall.DALLAS--(BUSINESS WIRE)--May 23, 1996--Dave & Buster's, Inc., the Dallas-based restaurant/entertainment company, announced today that the company has signed a long term lease agreement with The Mills Corporation The Mills Corporation was a publicly traded real estate investment trust headquartered in Chevy Chase, Maryland, United States, acquired on April 3, 2007 by an investment group comprised of Simon Property Group and Farallon Capital Management. of Washington, D.C. to lease approximately 58,000 square feet of space within the new Ontario Mills mall in Ontario, Calif. Dave & Buster's is a large format, upscale, adult-oriented concept that combines great food, like personal pizzas, gourmet pastas and baby back ribs with interactive family entertainment, including billiards billiards, any one of a number of games played with a tapered, leather-tipped stick called a cue and various numbers of balls on a rectangular, cloth-covered slate table with raised and cushioned edges. , shuffleboard shuffleboard, sport in which players use cue sticks to push disks onto a scoring diagram at either end of a concrete or terrazzo court. The court is 52 ft (15.85 m) long and 6 ft (1.83 m) wide. The bases of the triangular scoring diagrams are parallel to and 8 ft (2. and a "Million-Dollar Midway" filled with everything from the latest interactive electronic games to traditional favorites. Located at the intersection of Interstate 10 and 15, Ontario Mills will be the largest retail development built in the nation this year. The value-oriented mega-mall, slated to open on Nov. 14, will include 1.7 million square feet of retail space, including more than 15 anchor stores, 200 specialty stores, and an AMC (Advanced Mezzanine Card) See AdvancedTCA. 30-plex theater. Dave & Buster's, slated to open in spring of 1997, will occupy a prime position fronting Interstate 15. An exterior entrance as well as an interior mall entrance will provide guests easy access from early lunch to late dinner. Ontario Mills will be unlike any other shopping destination in southern California. Its size alone sets it apart -- four Dodger stadiums could fit under its 2 million-square-foot roof. This super-successful hybrid retailing concept combines the best in outlet stores, off-price retailers, entertainment and specialty stores to offer shoppers deep selection and brand name merchandise at discount prices. They typically serve an area at least twice as large as traditional super regional malls, and shoppers spend up to three times as long in a Mills mall than a traditional mall. Ontario Mils projects 16 million to 18 million visitors per year, and according to the California Department of Transportation The California Department of Transportation (Caltrans) is a government agency in the U.S. state of California. Its mission is to improve mobility across the state. It manages the state highway system and is actively involved with public transportation systems in California. , more than 300,000 vehicles will pass the project daily. Citing these statistics, which show the Inland Empire is considered one of the most rapidly growing areas in the country, Dave Corriveau, co-founder of Dave & Buster's said, "We are excited to be part of such a dynamic location, and look forward to serving the millions of surrounding customers Great Food, Great Fun and the Best of Times ... Dave and Buster's style!" "Having Dave & Buster's open its first West Coast location at Ontario Mills is very exciting for us," said Mills Chief Executive Officer Laurence C. Siegel. "Entertainment-oriented dining is the hottest segment of the restaurant industry, and our shoppers will love going to Dave & Buster's to eat great food and have some great fun." Dave & Buster's, which was founded in 1982, is the country's leading upscale restaurant/entertainment concept and currently operates locations in Dallas (2 locations), Houston, Atlanta, Philadelphia, Chicago (2 locations), and Hollywood/Ft. Lauderdale, Fla. The company's next location is scheduled to open early fall of 1996 in the White Flint Mall White Flint Mall is a shopping mall along Rockville Pike in Montgomery County, Maryland, that opened in 1977 and was initially anchored by Bloomingdales, Lord & Taylor, and I. Magnin. Borders Books and Music took over the I. of North Bethesda, Md. Dave & Buster's, Inc. is traded on the NASDAQ stock market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. under the symbol (DANB DANB Dental Assisting National Board ). The Mills Corporation is a full service real estate development company based in Washington, D.C., which owns, develops, redevelops, leases, manages and markets a portfolio of malls and shopping centers. The Mills Corporation trades on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol (MLS See multilevel security. ). CONTACT: Chris Myers, Richards/Gravelle, for Dave & Buster's, Inc., 214/891-5721, or Sheri Johnson, Laer Pearce & Associates, for The Mills Corporation, 714/753-1111 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion