Johnson Development Corporation
Magic Johnson Theatres
In 1994, Johnson Development Corporation formed a partnership with the then Sony Entertainment motion picture exhibition group. A subsequent merger created Loews Cineplex Entertainment, the company that is currently partnered with Johnson Development Corp. The mission of this partnership is to operate first run multiplex theatres in under-served communities throughout the United States and provide patrons superior state of the art facilities and amenities.
The theatre project design is patterned after the Loews Cineplex Entertainment model, featuring a "Magic Theatres" marquis, minimum 60,000 square foot freestanding complexes with 10-15 screens, and seating capacities ranging from 3,200-5,000. The multiplex theatres offer the highest quality in customer comfort and convenience and feature the latest technology. Examples of significant features of these multiplex facilities include computerized box office stations, elegantly designed lobbies with multiple concession stations, stadium-style seating and state-of-the-art SDDS stereo sound.
In addition to providing an excellent theatrical entertainment experience, the theatres serve as a business stimulus, fostering local economic growth, job development and financial empowerment in the communities they serve.
The business goal of Magic Johnson Theatres is to improve the growth and profitability of the company by aggressively growing screen count in selected urban markets and providing excellent customer/patron service. This goal will be actualized through expansion and development of additional theatres into new demographic "free film zones". These "free film zones" exist in historically under-served urban communities.
Land: Minimum 14 acres for stand-alone project
Building Square Footage: 60,000-100,000 square feet
Screens: 10-15
Seats: 3,200-5,000
Parking: 1 space for every 3 seats Will share parking in appropriate situations
Types of Real Estate: Freestanding, Power Center, Regional Mall, Outlet Center, Urban Projects
Demographics: MSA's greater than 400,000 Target audience of at least 200,000-250,000 Minority urban and suburban markets
Preferred Co-Tenants: Sit-down restaurants Entertainment and/or leisure-time based retailers
Deal Structure: Build-to-suit Ground leases Will consider other structures (as appropriate)
Initial Lease Term: 15-20 years
Options: A series of 5-year option periods
Magic Johnson's T.G.I. Friday's
Carlson Restaurants Worldwide Inc., headquartered in Dallas, Texas, is the global leader in the casual dining industry and is considered an important innovator in the development of emerging brands in both casual and sophisticated dining segments. In February 1998, Carlson Restaurants entered into a partnership agreement with Johnson Development Corporation to develop Magic Johnson1s T.G.I. Friday's restaurants. This joint venture is designed to bring jobs, vitality, quality entertainment and casual dining options to under-served communities by combining Friday's famous heritage with Mr. Johnson's vision for reinventing urban commercial districts.
The Magic Johnson1s T.G.I. Friday's restaurants feature a menu, decor and atmosphere reminiscent of T.G.I. Friday's. However, additional artifacts representing local culture, history and other adaptations are introduced to make the ambiance reflective of the host community. The Magic Johnson's T.G.I Friday's restaurant displays also feature various types of co-branding highlighting the joint venture. The marquis is the signature element highlighting the partnership and welcoming the community to the restaurant.
Management of the Magic Johnson's T.G.I. Friday's team is a cooperative effort of the partnership. Mr. Lombard (President), Ms. Kimberley Ingram (Director of Development), Ms. Kim Willis (Director of Marketing) and Mr. Bryce Fluellen (Director of Operations), are the principal (JDC) representatives who work with Carlson Restaurant Worldwide, Inc. representatives to manage daily restaurant operations.
Magic Johnson's T.G.I. Friday's | Site Criteria
Building Square Footage: Minimum 6500-7500 square feet
Parking: Will share parking in appropriate situations
Types of Real Estate: Freestanding, Power Center, Regional Mall, Outlet Center, Urban Projects
Demographics: MSA's greater than 400,000 Target audience of at least 100 K Minority urban and suburban markets
Preferred Co-Tenants: Entertainment and/or leisure-time based retailers
Deal Structure: Build-to-suit Ground leases Will consider other structures (as appropriate)
Initial Lease Term: 10 years
Options: Minimum of four 5-year option periods
Magic T.G.I. Friday's Information for Investors
Starbucks Urban Coffee
Urban Coffee Opportunities represents the only partnership Starbucks, the leading retailer, roaster and brand of specialty coffee in North America, has entered into in the United States. This innovative venture, launched in February 1998, combines the retail strength of Starbucks with Johnson Development Corporation1s knowledge of under-served communities in key metropolitan cities.
Together, Johnson Development Corporation and Starbucks strive to enthusiastically satisfy customers while contributing to community development and the environment. The jointly owned stores have become the social centers in their communities. Patronage has resulted in meeting and in some cases exceeding start-up expectations.
Each store implements the operating procedures of the Starbucks Coffee Company. This includes the incorporation of specific d�cor and related treatments that reflect the host neighborhood. In addition, each Urban Coffee Opportunities/Starbucks partnership store features a special mural and other branding memorabilia decorated with a photograph of Mr. Johnson holding a Starbucks Coffee mug. As with the other partnerships, Johnson Development Corporation and Starbucks representatives jointly oversee the joint ventures finances, development, marketing, and operations.
Building Square Footage: 1500 square feet
Parking: Will share parking in appropriate situations
Types of Real Estate: Freestanding, Power Center, Regional mall Outlet Center, Urban Projects
Demographics: MSA's greater than 400,000 Target audience of at least 50 K within 1 mile radius Minority urban and suburban markets
Preferred Co-Tenants: Entertainment and/or leisure-time based retailers Sit-Down Restaurants
Deal Structure: Build-to-suit Ground leases Will consider other structures (as appropriate)
Initial Lease Term: 10 Years
Options: Minimum of two 5-year options
Urban Starbucks Information for Investors
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