WS Development has signed a 20-year lease for a movie theater at One Seaport Square, an estimated $600 million pair of 22-story apartment and retail towers slated for South Boston's Seaport District.
Chicago-based Kerasotes ShowPlace Theatres will occupy about 41,375 square feet of third-floor space in the project, which will include 260,000 square feet of retail in total.
Kerasotes operates ShowPlace ICON Theatres in Chicago and St. Louis Park, Minn., that include a lobby lounge, reserved seating and dining with alcohol in leather sofa-style chairs with tables. It also runs a standard multiplex movie theater, Kerasotes Showplace 14, in Secaucus, N.J.
Kerasotes couldn't be reached for comment, but its website says it plans to open more of its ICON Theatres in other major U.S. markets.
Michael McNaughton, senior vice president of Chestnut Hill-based WS Development, would not comment on the deal.
"We're planning a groundbreaking in the next 30 days, and our goal was to work within that time-frame to unveil some key announcements," he said.
At 1.1 million square feet, One Seaport Square is the largest project in the $3.5 billion Seaport Square neighborhood, which is set to include 6.3 million square feet of mixed-used projects on 23 acres. WS Development is handling all of the leasing for the 1.3 million square feet of Seaport Square's retail space.
Boston multifamily-housing investor and manager Berkshire Group paid $72 million in December to buy three acres for One Seaport Square from master developers Morgan Stanley and Boston Global Investors, which will remain a limited partner.
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