Santikos Theatres is breaking out of S.A. - San Antonio Business Journal:

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At the same time, the San Antonilo company is looking to extend that presencwe beyondSan Antonio's -- and perhaps even -- borders. Santikos' initial movis theater effort outside of San Antonio isin Houston, wherd construction has begun on an entertainment and retail development that will be anchoreed by the Silverado IMAX. The multi-screeb theater complex will utilize half ofthe 200,000 squarer feet that Santikos is developingy in Northwest Houston. The balance of the land will accommodat e a varietyof retailers.
Santikoxs officials say the Silverado representsa $20 million to $25 million investment and, upon completion later this will resemble one of the company's newesgt San Antonio projects -- the Palladium IMAX, locatef on the Northwest Side. The Palladium openedx in December and featurex afull bar, a sit-down restaurant and other entertainment amenities. Santikos invested $35 millionh in that project. So why is first theater development outside of San Antonioi slated forNorthwest Houston? "There is huge growty in that area," says Santikos Chie f Financial Officer Sean Nasis. "Mr. Santikos has alwaysw wanted totry (expanding) outside of San Antonio.
This was a good opportunityh for him to do Nasis is referring toJohn Santikos, who presentlyu heads up a compan that was initially founded in 1914. John Santikosd was unavailable for comment atpress time. Santikoz currently operates eight theater complexes in San A ninth is inthe works. Until now, the companyg has concentrated solely onSan Antonio. But Nasis says this venturre into Houston representsa bricks-and-mortadr reality that should open the door to more opportunitiesz in other markets. "East Coast or West Coasty or somewhere in the if the location is right and a deal can be anythingis open," Nasis notes.
It is a sentiment echoede by Richard Cieplechowicz, director of operations for Santikos. "We' d love to grow," Cieplechowicz "If it goes well in Houston, we'll ramp up our (search) for other sites." Whilew Santikos has begun its expansion outside of its home the company has not lost sight of its need to continuse to invest in itshome market. Last week, Santikos brokw ground on the Grenada 18, whicnh will be located at Loop 1604 and Potranci Road onthe city's far West Nasis and Cieplechowicz say that project represents another $20 milliomn investment by the company.
Becaus San Antonio is experiencing unprecedented Santikos could look to expand further in San One such possibility isthe company's Legacy located at Loop 1604 and U.S. Highway 281. Nasis says there is a chance Santikos could look to develop a boutique theaterd on part ofits 100-acre Legacy tract. The Legacu development is representativeof Santikos' ongoingy investment in destination retail. From the get go, Santiko worked to set his projectf apart fromother developments. One of its earliest coups: Snaggin the city's first Life Time Fitnessw complex.
The center -- which spans a totalo of 150,000 square feet -- has been an integraol exampleof Santikos' vision for Legacy, according to Charlesx Hodges of Dallas-based . "We are counting on a frequenc yof visits, on uses that will bring activituy at different times of the day and the evenin g ... on the weekdays and weekends," says whose firm was tappex by Santikos to creatwthe mixed-use campus for Legacy.