Theater Deal Done.Cleaning up some other unfinished business, OliverMcMillan, Culver City Redevelopment Agency and Pacific Theatres Corp. have finalized arrangements to secure a movie theatre as an anchor for the Screenland/Town Plaza project. OliverMcMillan President Jim McMillan said Pacific Theatres signed a management agreement that will pay the cinema operator a management fee based on revenues brought in at the site. He declined to say what percentage of revenues Pacific would get, and Pacific officials referred questions to the developer. Previously, Paul Buss, executive vice president of OliverMcMillan, said the developer's agreement with Pacific provides the theater chain with a management fee Management Fee A fixed fee that a mutual fund manager charges investors for his services and work with the fund.Notes: The management fee is the cost of having your assets professionally managed for you. See also: 12b-1 Fees, Expense Ratio, Fund Manager, Mutual Fund equal to 6 percent of gross sales Gross Sales A measure of overall sales that isn't adjusted for customer discounts or returns, calculated simply by adding all sales invoices, and not including operating expenses, cost of goods sold, payment of taxes, or any other charge.Notes: Gross sales is usually an important measure for those companies in the consumer retail industry.. Theater operators generally get a larger cut - as much as 50 percent of gross sales - when they own and operate theaters. Overall, the project is designed to feature a 10-screen cinema, 77,000 square feet of office space, 30,000 square feet of restaurant space and 10,000 square feet for a Trader Joe's market. |
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