Main Street Movies 5 to invest $3 million in full-scale renovation

Newark, Del. -- Atlantic Realty Companies announced Main Street Movies 5 has signed an 18,000 sq. ft. lease at Newark Shopping Center in Newark, Delaware.



Main Street will invest $3 million in a full-scale renovation of the existing theater space and expand into the adjacent space. Construction is set to begin in February with a grand opening in August.



Main Street Movies 5 when complete will be a five-screen movie theater with reserved, reclining seats and refreshments from local vendors at the Newark Shopping Center. In addition the theater will offer a full bar, a 50-ft. screen, self-serve ticketing, and a wide variety of grab-and-go concession offerings.



"We believe in being part of the community,” said Rick Roman, principal of Main Street Movies 5. “In addition to the typical movie theater fare, we plan to sell locally made refreshments including pizza, cookies, and ice cream."



“We are excited to bring a new, modern movie theater to Newark Shopping Center, the second oldest shopping center in Delaware,” said David Ross, president for Atlantic Realty. “Along with our partners at Angelo, Gordon, we are happy to be able to maintain this amenity for the City of Newark. Having a theater operated by professionals who are community-oriented will go a long way toward ensuring a successful operation.”



In late 2015, Atlantic Realty completed a $10 million renovation of the 61-year-old Newark Shopping Center to serve the needs of customers along Newark’s Main Street corridor and the nearby University of Delaware campus. The center tenants include: Newark Natural Foods, PNC Bank, Rita’s Italian Ice, Dollar Tree, Mediterranean Grill, Zahra International Foods, Mayflower Japanese Restaurant, Churrascaria Saudades Brazilian Steakhouse, Capriotti’s Sandwich Shop, Sports Clips, Big Z Pizza, and other retailers, as well as two tenants of long standing: Hair Design by Anthony and the only remaining original tenant from 1955, Minster’s Jewelers.



Newark Shopping Center was developed originally by Pomeroy Realty, Inc. at a cost of $1 million – an eye-popping figure at the time. Fourteen of the center’s 16 acres were devoted to parking, accommodating Americans’ postwar love affair with the automobile.