Forsyth project Halcyon lands first-to-market theater CMX

A new upscale dine-in theater is heading to a mixed-use project in Forsyth County.

CMX, an affiliate of Mexico-based theater giant Cinemex, has signed a lease to open a 10-screen, 38,000-square-foot cinema at Halcyon, a roughly $370 million project from Atlanta-based developer RocaPoint Partners.

CMX is the first confirmed tenant for Halcyon, a 135-acre project on McFarland Parkway that will include 360,000 square feet of office and retail, a boutique hotel and 690 residential units.

It will be CMX’s first metro Atlanta location and is expected to open in April 2018.

CMX offers an elevated experience with full-service dining, handcrafted cocktails and plush recliners. At Halcyon, CMX will offer 500 luxury seats with the latest in audiovisual technology.

The design of the theater includes a sleek glass entrance.

“CMX perfectly weaves into the magnetic tenant mix we are looking to bring to Halcyon,” said Patrick Leonard, principal of RocaPoint Partners. “This particular chain gives us the entertainment venue we wanted: the plush viewing rooms offer moviegoers the cozy feeling of watching a film with friends, the luxury of having a full wait staff and gourmet dining options.”

In April, Atlanta Business Chronicle reported Halcyon could be a location for an upscale theater.

Several other new cinema operators have been scouting Atlanta for their first locations including Cinépolis, iPic Theaters and Silverspot Cinema.

Movie theaters are a nearly $17 billion industry in the United States, according to a December report from market research firm IBISWorld. U.S. box office revenue hit a record $11 billion last year, propelled by Disney’s “Star Wars: The Force Awakens.”

To battle online streaming platforms such as Netflix, movie theater operators now are focusing on concession sales and upgraded facilities.

Movie theaters are often good choices for shopping center owners because they take large chunks of space and bring people to centers who may also shop and eat nearby.

CMX is currently developing other locations across the country, including in Miami and Chicago. The location in Miami’s Brickell City Centre will the first in the U.S.

Jones Lang LaSalle worked with RocaPoint Partners to secure the CMX lease at Halcyon.

Source: http://www.bizjournals.com/atlanta/news/2016/10/31/forsyth-project-halcyon-lands-first-to-market.html