Cityline Sunnyvale Secures AMC Theaters Multiplex

CityLine Sunnyvale, AMC Theaters, Whole Foods Market, Murphy Avenue, Redwood Square, Hunter Storm, STC Venture, Sares Regis Group Northern California,

Twelve-Screen Multiplex with Dolby Cinema and IMAXComing to downtown Sunnyvale

SUNNYVALE, CA – OCTOBER 31, 2017 – CityLine Sunnyvale has signed a lease with AMC Theaters for a multi-screen theater that will open in the heart of downtown Sunnyvale. Combined with a new Whole Foods Market that will reside in the same building, the theater will be a major anchor for the multi-phase project. CityLine Sunnyvale will enliven downtown by extending Murphy Avenue as an active, pedestrian-oriented, mixed-use area with new residences, shopping, entertainment options, and office space planned across 36 acres.

A new, two-story building on the corner of Murphy and McKinley Avenues will house AMC Theaters on the second floor, with the previously announced Whole Foods Market on street level. The 52,000-square-foot theater and 52,000-square-foot grocery store will anchor the downtown district and help attract many additional appealing retail and restaurant tenants to the area.

The project is currently under design, with construction activities to start in the coming months, and a grand opening planned for summer of 2019. The new theater is planned as a 12-screen multiplex with Dolby Cinema and IMAX upgrades to two screens, and will include reserved seating and a full-service bar. The bar area will feature dedicated seating and a balcony overlooking the redesigned Redwood Square.

“This is a major step in fostering a thriving and dynamic downtown that supports a mix of strong, locally oriented businesses,” says Deke Hunter, President of Hunter Storm. “The addition of a new AMC multiplex and Whole Foods will contribute a balance of uses and attract people to a comfortable pedestrian environment abundant in high-quality open space. Ample parking will be provided with a large open space for an enhanced pedestrian experience on the street.”

CityLine Sunnyvale is being developed by STC Venture, LLC, a joint venture between affiliates of Hunter Storm and Sares Regis Group of Northern California (SRGNC).

“We see an exciting future for CityLine Sunnyvale,” says David N.P. Hopkins, Senior Vice President at SRGNC. “With this milestone, we are now focused on working with the City and community to complete the Downtown. We envision a vibrant, walkable neighborhood which integrates new housing, shops, and jobs with existing infrastructure such as Caltrain and the charm of the existing Murphy Avenue retail. Once completed, the downtown will serve as a new, smart, evolving, and energetic center for Sunnyvale.”

Twenty million dollars of public improvements are currently under construction for CityLine Sunnyvale, including the temporary reopening of Redwood Square for public use this month, the extension of Murphy Avenue to connect with McKinley Avenue, the addition of landscaping and street trees, the installation of new traffic signals, and the construction of landscaped medians. Target and Macy’s department stores continue to serve CityLine Sunnyvale, with parking for customers located in two existing garage structures and a surface lot east of Macys.

STC Venture recently requested a Downtown Specific Plan Amendment proposing to include the addition of a maximum of both 350,000 square feet of office space and up to 650 residential units located above ground-floor retail along McKinley Avenue and a newly extended Murphy Avenue. If approved, the residential community would surround a new active public plaza, bounded by diverse retail which will enhance and support a vibrant downtown Sunnyvale. The plaza will incorporate the existing heritage redwood trees, and add green spaces, picnic areas, play areas, and seating which can flexibly be used for both private and public functions. As proposed, the plaza would be a community gathering point for residents, workers, and visitors.

“We’re thrilled to welcome AMC Theaters back to Sunnyvale, and know this multiplex theater will be a fantastic addition to the already vibrant mix of housing, retail, and entertainment in our downtown,” says Mayor Glenn Hendricks.

The decision to name the project CityLine Sunnyvale was based on the concept that this area will “connect the dots” between work, life, entertainment, and leisure, with adjacent access to Caltrain. With residential, retail, and office space all in one convenient location, CityLine Sunnyvale will blend the boundaries between working and living in Sunnyvale.

James Chung of Cushman & Wakefield’s San Jose office represented CityLine Sunnyvale on the AMC lease while Craig Killman from JLL’s San Diego office represented AMC. Gary A. Glick of Cox, Castle & Nicholson’s Los Angeles office provided legal counsel for CityLine Sunnyvale on the lease while Pete DiGiovanni of Lewis Rice’s Kansas City, Mo. office represented AMC.

CityLine was acquired by STC Venture in late 2015. Phase One of construction is currently underway, and includes plans to complete198one-, two-, and three-bedroom apartments with indoor and outdoor amenities—including 24 affordable homes—along Taaffe Street, as well as 85,000 square feet of retail space opening in late 2018.

In addition, STC Venture LLC has submitted conceptual plans for an additional 94 residential units along Iowa Street, the entitlements for which were approved in 2007. These include 75 one- and two-bedroom apartments and 19 three-bedroom townhomes.

About Hunter Storm:
Hunter Storm, the development arm of Hunter Properties, is a commercial real estate development firm with an emphasis on ground-up construction, repositioning of assets, and value-add improvements. Hunter Properties was founded in 1960 and the current partners, Deke Hunter and Edward Storm formed Hunter Storm in 1986, with Curtis Leigh joining the team in 2004. The company enjoys a strong track record by focusing its efforts locally with all major projects located in the San Francisco Bay Area.

This allows the principals to leverage their market knowledge and expertise evenly across three product disciplines. Recent award-winning projects include Crossing 900in downtown Redwood City, @First in San Jose which is a mixed-use project of over 1 million square feet, Bass Pro at Almaden Ranch and Village Oaks in South San Jose. Current developments include Coleman Highline a transit-oriented development of over 1.5 million square feet across from San Jose International Airport.

About Sares Regis Group of Northern California:
Sares Regis Group of Northern California and its affiliates, Regis Homes Bay Area and Regis Contractors Bay Area, are regional companies based in San Mateo, California. As leading developers and managers of commercial and residential real estate in the western United States, the companies have more than 6.5 million square feet of commercial properties valued at $500 million and over 2,800 residential units under development. Since its inception, the company has acquired or developed approximately 46 million square feet of commercial properties and 20,000 multifamily and residential housing units. For more information, please visit: www.SRGNC.com.