Lim Ruger has successfully negotiated a lease that provides for a CJ Entertainment affiliate to build and operate CJ’s flagship U.S. movie theatre –which will be the first 4D theatre in Orange County showing newly released films for general audiences–at a lifestyle center in Buena Park that is expected to open in Spring 2016. The center, a state of the art project with a unique contemporary urban design, will feature 425,000 square feet of retail, an office tower, a Hilton hotel and live entertainment in the plazas.
Lim Ruger’s client, the owner and developer of the internationally themed center, was thrilled at concluding a deal with such a highly coveted tenant, which will be a key anchor for the center and will operate under the prominent “CGV” trade name. Conversely, CJ’s decision to commit to the lifestyle center, known as The Source at Beach, speaks to the overall quality of the center, a project in which Lim Ruger has played an important role in nearly every aspect. During lease negotiations, Lim Ruger won important protections for the developer, including ensuring that conditions to the tenant’s performance were reframed to be reasonable and achievable. Lim Ruger partners John Lim and Marc Manason worked on this matter.