State of the art, 44,000 square foot iPic Theater to anchor Federal Realty’s Pike & Rose development
Federal Realty Investment Trust today announced the execution of a 44,000 square foot lease with iPic Entertainment for an eight-screen theater, dining, and entertainment venue at Pike & Rose, its 24+ acre mixed use development in Rockville, Maryland. Federal Realty’s Pike & Rose will bring this sought after entertainment experience to Montgomery County, Maryland, introducing a new way to enjoy a movie, music, wine, and food. iPic’s all digital, state-of-the-art sound auditoriums and entertainment program will offer a number of options including:
Never waiting in a ticket line thanks to iPic’s free membership program and all reserved seating.
Reserved premium plus seating that boasts reclining chairs, pillows and blankets, popcorn and in-cinema service for the first 20 minutes of a movie.
Seating with unobstructed views featuring large micro-suede chairs complete with tables to enjoy an extensive food and beverage selection while enjoying the entertainment.
In-cinema dining with fresh chef creations made on site at their restaurant.
In addition to the theater, iPic will also boast a signature restaurant, Tansy, and Salt, its spirited bar with an extensive beverage selection and a first-in-market “select and serve” wine tower. Pike & Rose residents and guests will be able to enjoy iPic’s unique atmosphere and entertainment offerings even if a movie is not on their agenda.
“There is not another experience like iPic in this market, or on the east coast. It is a completely new and unique way of enjoying an evening out”, said Wendy Seher, vice president, leasing for Federal Realty. “iPic is a best in class entertainment operator and the execution of this lease provides a clear indication as to the type of overall development and first class, experience-driven environment we are creating at Pike & Rose. We look forward to making additional announcements of signed leases as we break ground and begin construction this summer”.
Pike & Rose is one of the east coast’s largest in-progress developments, spanning almost 25 acres and located at the intersection of Montrose Parkway and Rockville Pike. It will offer 420,000 square feet of retail space, 1.1 million square feet of build-to-suit office space, up to 1,600 residential units, and an unparalleled mix of entertainment, shopping, dining, and programming. Construction on the iPic building is expected to begin in the fall of this year and open with the first phase of the Pike & Rose development in 2014