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Fort Worth and Grand Prairie, TX: UA Fossil Creek 11 Undergoing Renovations, UA Grand Prairie to Close in 2016

Posted on Monday, June 29, 2015 and updated on Saturday, December 12, 2015 2:54 PM

The UA Fossil Creek Stadium 11 in Fort Worth, Texas is undergoing renovations, and the UA Grand Prairie 10 in Grand Prairie, Texas will close in 2016, following their sale to United Development Co., according to an article published recently in the Star-Telegram:

Southlake-based United Development Co. has partnered with two other real estate investment and development firms to buy 11 movie theater properties, including one each in Fort Worth that’s being renovated and another in Grand Prairie that will close.

United Development, ALA Holdings in Los Angeles and Washington-based Iron Point Real Estate Partners recently completed the $40 million deal with owner Kimco Realty. In addition to Texas, properties in the 109-screen portfolio are in New York, New Jersey, Mississippi, Louisiana, North Carolina, Oklahoma and Colorado.

Only four of the properties will remain as theaters, while the remaining seven will be redeveloped, said Biff McGuire, founder and CEO of United Development.

The deal included the UA Fossil Creek Stadium 11 at 6100 N. Freeway. The theater is open while it undergoes about $3 million in renovations and upgrades to seating and concessions. The work should be completed in November, he said.

The UA Grand Prairie 10 theater at Interstate 20 and Carrier Parkway will close early next year and be redeveloped as a retail center, likely with a grocery store and restaurant anchors, McGuire said.

Click the Read link below to view the full article.

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