Marcus Theatres is planning to build an eight-screen movie theater complex at Southridge Mall in Greendale.
The 44,000-square-foot theater will be built in the mall parking lot, on the northeast corner of the mall property located at 5300 S. 76th St., along West Edgerton Avenue, according to real estate brokers who were approached by Southridge owner Simon Properties about finding additional retail and restaurant tenants that could compliment the theater.
Greendale Village Manager Todd Michaels said the deal has been in the works for more than a year; however because of the mall’s master development agreement, Simon Properties, had to get approval from all of its anchor tenants before it could move forward.
“We’re really excited about the possibility for this, it should bring more people to the mall area and it’s good for all of the retailers around it,” Michaels said. “We’ve had a lot of improvements on that corridor with the new Wal-Mart, Chick-fil-A, Panda Express and LongHorn Steakhouse, this will just add to it.”
Marcus Theatres, a division of Milwaukee-based The Marcus Corp., declined to provide any details about the theater complex plans. Mall representatives did not return calls.
“We are currently in the development stages and as such are not in a position to share a greater level of detail on the project,” said Mari Randa, Marcus Theatres spokesperson said in a written statement. “However, we will be more than willing to provide additional information at a later date, once details have been solidified.”
Katie Falvey, Marcus Corp. vice president of real estate was at the Greendale Village Board Tuesday to discuss a building permit application for the theater complex.
In recent years, Simon Properties has made many improvements to the Southridge Mall property, including the 2012 addition of Macy’s in the former Yonkers space, and Buca di Beppo Italian restaurant in 2014.
Having a cinema on the property will benefit both Southridge and the surrounding retailers and restaurants in the South 76th Street area, said Tom Treder, a partner at Milwaukee-based Commercial Property Associates.
Treder is marketing the 16,200-square-foot former Bally Total Fitness building at 5474 S. 76th St. He said there has been a lot of interest in the 2-acre redevelopment property and believes news of a new cinema will make that site even more desirable.
“Southridge has transformed over the last several years with the addition of Macy’s and the restaurants,” Treder said. “That is only going to continue and with the other project coming down the pike, it’s needed.”
The other project that Treder is referring to is Cobalt Partners’ plans for the nearby 40-acre site at I-894 and South 84th Street, which includes more than 300,000-square-feet of retail shops and restaurants, as well as a possible hotel and 350 market-rate apartments.
“They are going to be targeting large-scale retailers and restaurants,” Treder said, adding that Southridge Mall has space for additional restaurants, Like Buca di Beppo, which is accessible from inside and outside of the mall.
“I don’t specifically know what (Southridge) has available, but they’re trying to create new restaurant spaces around the anchor stores,” he said.
