Seritage Growth Properties is transforming a space formerly occupied by Sears at Orland Square Mall, in Orland Park, Ill., into a multitenant retail and entertainment destination, including a 10-screen AMC cinema. The 45,000-square-foot cinema will offer roughly 1,000 reclining seats, food and beverages and, possibly, a MacGuffins Bar serving alcohol.
“We are very excited about the addition of an AMC theater as an anchor of the redevelopment of the Sears store at Orland Square,” said Michael E. McCarty, CRX, CLS, executive vice president of development operations at Simon, which owns the 1.2 million-square-foot suburban Chicago mall. “This Sears redevelopment makes Orland Square that much more attractive to consumers looking for places to shop, dine and be entertained. We expect this to be the first of several exciting new initiatives at the center in the coming months.”
The renovated space will occupy the property’s upper level, and a renovated Sears store will be on the ground floor.
New York City–based Seritage is a publicly traded, self-administered and self-managed REIT with 230 wholly owned properties and 28 joint-venture properties, totaling upwards of 40 million square feet across 49 states and Puerto Rico. The company was formed and listed on the New York Stock Exchange in July 2015 in conjunction with the acquisition of a portfolio of real estate from Sears Holdings. Seritage states that its mission “is to create and own revitalized shopping, dining, entertainment and mixed-use destinations that provide enriched experiences for consumers and local communities and that generate long-term value for our shareholders.
By Edmund Mander