Open-air mixed-use center appealing to popular brands; carefully selected tenant mix includes first-in-Wisconsin national operators and best-in-class locals
Milwaukee, Wis., December 4, 2013 - The Marcus Corporation (NYSE: MCS) today announced an initial line-up of tenants opening in The Corners of Brookfield, the open-air, town-center-style development in the Town of Brookfield, Wis. The mixed-use 460,000 square-foot development will be anchored by Wisconsin’s first Von Maur department store. The announcement followed a vote by the Town of Brookfield Board approving the Development Agreement between the Town and The Marcus Corporation, which provides for the tax incremental financing for the project.
"The Corners is the Wisconsin choice for several popular, nationally-known, first-to-market retailers and restaurants," said Katie Falvey, director of real estate for The Marcus Corporation. "In addition to the national tenants, many of whom have been looking for a unique project in order to make their entrance into Wisconsin, our goal from day one has been to also incorporate local flavor into an eclectic mix of fashion, dining, and vibrant living. The Corners’ location in the Town of Brookfield on I-94 and Bluemound Roads – a first-tier suburban redevelopment – will allow us to create a distinctive, new regional destination."
Tenants opening in The Corners include:
- Arhaus Furniture – Formed in 1986 and headquartered in Walton Hills, Ohio, Arhaus Furniture’s vision combines traditional craftsman practices with eco-conscious and forward-looking design, for an eclectic collection of quality home furniture and accessories. For over 25 years, designers have worked with skilled artisans from around the globe to ensure every Arhaus piece meets its distinctive standards of quality, uniqueness and sustainability. With 40 U.S. locations and growing, The Corners will host the first Arhaus store in Wisconsin. http://www.arhaus.com
- BRIO Tuscan Grille - Part of BRAVO/BRIO Restaurant Group, BRIO features an upscale affordable menu of Italian foods inspired by Tuscan cuisine in a relaxing country villa setting. BRIO’s immense popularity has been fueled in part by its strategic decision to locate in premium locations within some of the most successful, upscale open-air centers in the country, including Easton Towne Center in Columbus, Ohio and Scottsdale Quarter in Scottsdale, Ariz. This will be the first BRIO restaurant location in Wisconsin. http://www.brioitalian.com/index.html
- The Lowlands Group – The Lowlands Group, based in Milwaukee, Wis., operates European-style Grand Cafes including Café Hollander, Café Benelux and Café Centraal. Their café concepts offer a warm and welcoming environment, unique and comforting menus and an extensive bier list filled with an unmatched selection of rare and even exclusive Belgian biers. The Lowlands Group will open one of their grand café concpets at The Corners of Brookfield. http://www.lowlandsgroup.com/ourcompany
- Chico’s – A popular national brand, Chico’s offers women a combination of great style, one-of-a-kind details and warm personal service. Chico’s primarily sells exclusively designed, private-branded clothing that is fashionable, unique, relaxed, figure-flattering and comfortable. http://www.chicos.com/store/home.jsp
- Colectivo Coffee – The Corners will be home to the first Colectivo Coffee, formerly Alterra, in Waukesha County. Milwaukee’s beloved home-grown coffee roaster, organic bakery and café brings big flavors from around the world to local coffee lovers. With nine locations in great neighborhoods primarily on the east side of Milwaukee, Colectivo is boldly entering the western suburbs with a new outpost located right on the public park in the center of The Corners development. http://colectivocoffee.com
- CRAVE Restaurant – Fresh. Vibrant. American. CRAVE delivers a restaurant experience where quality, locally sourced food, chic atmosphere and diverse choices offer guests the opportunity to create their own unforgettable dining experience. The energy of the restaurant is fueled by the warm and open design, the modern sushi bar, the signature rooftop lounge and the sense of discovery in every corner. Having grown from a single location in Minneapolis to locations throughout the country in popular, hip destinations, CRAVE’s entrance into Wisconsin at The Corners is a natural next step. http://www.craveamerica.com
- Grimaldi’s Pizza – Grimaldi’s Pizza has been providing coal-fired, brick-oven pizza for more than 100 years. Its fresh ingredients, handmade mozzarella, "secret recipe" dough and pizza sauce makes it one of the most award-winning pizzerias in the U.S. Known as a "must have" for pizza lovers and celebrities alike, including Frank Sinatra and former NYC Mayor Rudy Guiliani, Grimaldi’s promises true New York-style pizza. With locations in New York, New Jersey, Arizona, Florida, Nevada, South Carolina and Texas, The Corners will be its first location in Wisconsin. http://www.grimaldispizzeria.com
- Hot Mama - Hot Mama offers designer clothing to moms so they can look and feel good whether they are at a baseball game, date night or at work. Founded in 2004 with its flagship store in Edina, Minn., the nationwide retail boutique prides itself on celebrating moms of all ages and all phases of motherhood, and making them look and feel beautiful. With locations in 14 states, The Corners will be its third location in Wisconsin. http://www.shopmama.com
- Kilwins – Kilwins handmade chocolates, fudge and ice cream have been pleasing customers since 1947. Its secret recipe and made-in-store products, such as Mackinac Island fudge, brittles, caramels, caramel corn, hand-dipped chocolate products, caramel apples and REAL ice cream leave customers coming back for more. With stores throughout the U.S., primarily in shopping and tourism destinations, Kilwins currently has one location in Wisconsin in downtown Lake Geneva. Kilwins is currently seeking a franchisee to operate The Corners store. https://www.kilwins.com
- White House Black Market – A national fashion retailer, White House Black Market (WHBM) strives to make women feel beautiful, with apparel and accessories in the honest simplicity of black and white and the individuality of styles built from it. The store became a household name and its popularity soared in 2008 when Michele Obama wore a WHBM dress on a television appearance. http://www.whitehouseblackmarket.com/store/home.jsp
As previously announced, Davenport, Iowa-based Von Maur , the upscale department store chain, will open its first store in Wisconsin at The Corners. The 140,000 square-foot store will anchor the mixed-use development and will be the sought-after fashion department store destination in southeastern Wisconsin. Von Maur has grown to a 27-location chain, with stores in Georgia, Illinois, Indiana, Iowa, Kansas, Kentucky, Michigan, Minnesota, Missouri, Nebraska and Ohio; and coming soon to Alabama and New York. Priding itself on a wide selection of brand-name merchandise, open and attractive store design and excellent customer service, Von Maur will bring a very special shopping experience to The Corners.
"As evident from this initial mix of restaurants and retailers opening in The Corners, the project is appealing to ‘best-in-class’ operators, from coffee and special occasion dining, to upscale fashion, and everything in between," said Falvey.
Falvey noted the company is in advanced negotiations with more than two dozen additional leading brands, with further announcements to come.
In February, The Marcus Corporation announced it signed an agreement with Milwaukee-based Mandel Group, Inc. to direct development of the residential component of The Corners. Featuring 150 modern, luxury apartments and lofts, the stylish residential community will offer exterior balconies stacked above retail storefronts, concierge services, a social media center for residents, secure covered parking and a health and fitness center.
About The Corners of Brookfield
Anchored by Wisconsin’s first Von Maur department store, The Corners is a mixed-use 460,000 square-foot development in suburban Milwaukee that will be built on a 19-acre site at the intersection of I-94, Barker Road and Bluemound Road, the pre-eminent retail corridor in Wisconsin. The Corners will feature national specialty and fashion retail along with best-in-class local and regional shops and restaurants and luxury apartments – all served by a unique single level of covered parking.
In addition to The Marcus Corporation, development team partners include NAI MLG Commercial, Bayer Properties, DDG Architects, Eppstein Uhen Architects, Kapur & Associates Engineers and Tri-North Builders.
About The Marcus Corporation
Headquartered in Milwaukee, Wisconsin, The Marcus Corporation is a leader in the lodging and entertainment industries, with significant company-owned real estate assets. The Marcus Corporation’s theatre division, Marcus Theatres®, currently owns or manages 685 screens at 55 locations in Wisconsin, Illinois, Iowa, Minnesota, Nebraska, North Dakota and Ohio. The company’s lodging division, Marcus® Hotels & Resorts, owns and/or manages 19 hotels, resorts and other properties in 10 states. For more information, please visit the company’s website at www.marcuscorp.com.
Certain matters discussed in this press release are "forward-looking statements" intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements may generally be identified as such because the context of such statements include words such as we "believe," "anticipate," "expect" or words of similar import. Similarly, statements that describe our future plans, objectives or goals are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties which may cause results to differ materially from those expected, including, but not limited to, the following: (1) the availability, in terms of both quantity and audience appeal, of motion pictures for our theatre division, as well as other industry dynamics such as the maintenance of a suitable window between the date such motion pictures are released in theatres and the date they are released to other distribution channels; (2) the effects of increasing depreciation expenses, reduced operating profits during major property renovations, and preopening and start-up costs due to the capital intensive nature of our businesses; (3) the effects of adverse economic conditions in our markets, particularly with respect to our hotels and resorts division; (4) the effects of adverse weather conditions, particularly during the winter in the Midwest and in our other markets; (5) the effects on our occupancy and room rates of the relative industry supply of available rooms at comparable lodging facilities in our markets; (6) the effects of competitive conditions in our markets; (7) our ability to identify properties to acquire, develop and/or manage and the continuing availability of funds for such development; and (8) the adverse impact on business and consumer spending on travel, leisure and entertainment resulting from terrorist attacks in the United States or incidents such as the recent tragedy in a movie theatre in Colorado. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are made only as of the date of this press release and we undertake no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.