The Real Deal Miami

Dezer Development adds luxury theater to Intracoastal Mall

iPic signs 40,000-square-foot lease at North Miami Beach retail center

June 11, 2014 11:15AM

  • Print
iPic Theater in Boca Raton

iPic Theater in Boca Raton

Dezer Development struck a deal with luxury movie theater chain iPic Theaters to expand to the company’s Intracoastal Mall in North Miami Beach.

The mall owner and iPic signed a 40,000-square-foot lease at the property, which is located along the Intracoastal Waterway. An eight-screen theater is set to be built at the mall, according to Tuesday’s written announcement. Construction should start within three months and wrap up in time for a fall 2015 opening.

Intracoastal’s iPic would join an existing location in Boca Raton. The chain also plans to open a theater in Delray Beach.

“The residents of North Miami Beach, Aventura and Sunny Isles Beach demand the very best, and we know they will embrace the style, affinity and luxury that iPic Theaters has to offer,” iPic Entertainment president and CEO Hamid Hashemi said.

Dezer paid nearly $64 million for the 3501 Sunny Isles Boulevard mall in December 2013. — Eric Kalis

MENU