Thank you for sharing!

Your article was successfully shared with the contacts you provided.

BETHLEHEM TWP., PA-In its first foray into Pennsylvania, Fort Lauderdale, FL-based Muvico will drop anchor at Summit Lehigh Valley, a $500-million mixed-use complex being jointly developed by Forest City Enterprises and Bayer Properties Inc. Called Muvico Valley 20, it is a 92,000-sf, 4,200-seat theater with 20 screens.

“Muvico adds an upscale, entertainment element to the tenant mix, serving as a centerpiece for the village environment we’re creating,” says Brian Ratner, VP of east coast development for Cleveland-based Forest City. Summit Lehigh is under development at Route 33 and Freemansburg Avenue. It will contain an estimated 950,000 sf of retail and between 500,000 sf and 700,000 sf of office space along with a residential component and the St. Luke’s hospital complex, Ratner tells GlobeSt.com. He confirms the estimated $500-million construction cost for the commercial sector alone.

“Permits are being obtained,” Ratner says, “and the [shopping center] opening is planned for spring 2007.” He declined to confirm that the retail component will also include Target, Best Buy and BF Chang’s China Bistro, all of which are listed on the website of Birmingham, AL-based Bayer. “We’ll let tenants disclose their plans,” Ratner says, adding, “we’re in good negotiations with prospective tenants.” Approximately 800 single-family and multifamily units will border Summit Lehigh Valley. At an estimated construction cost in excess of $40 million, the St. Luke’s medical campus will occupy 180 acres with a 300,000-sf facility at its core.

Muvico currently operates 12 theaters in Florida, Maryland and Tennessee and has additional ones under development. Typically, Muvico theaters provide valet parking, a children’s playroom, and a concessions menu of pizza, chicken breasts and other hot meals.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.