AMC Theatres (NYSE:AMC) and Sand Hill Property Company announced that AMC Cupertino Square 16 will close at the end of business on March 22, 2018.
“AMC continues to invest in its theatres and in delivering the best possible movie-going experience to our guests, however, after a thorough evaluation of AMC Cupertino Square 16 and the mall’s status, we determined further investment in this location was not feasible,” said Dan Ellis, Senior Vice President, Domestic Development, AMC. “We reached an agreement with Sand Hill to close this theatre, and we look forward to opening our AMC Sunnyvale Town Center theatre in 2019. In the meantime we invite our guests to join us at AMC Saratoga 14, AMC Eastridge Mall 15, and AMC Mercado 20.”
Sand Hill and AMC have also agreed for AMC to return to Vallco under a new lease with a state-of-the-art theater to anchor Sand Hill’s proposed mixed-use town center project, conditioned upon City approval of a viable redevelopment plan at Vallco by the end of 2018. In October 2017, Sand Hill submitted a letter to the City of Cupertino requesting to restart this approval process for Vallco’s redevelopment.
“We are hopeful that AMC can return to Cupertino with a state-of-the-art theatre and have executed an agreement with Sand Hill to return should plans for a new Vallco be approved this year,” continued Ellis.
“For many years, AMC has been an important part of Cupertino and a very popular community destination. Because of this, our proposals for revitalization of the mall property have always been centered on the retention and modernization of AMC in a way that would make it an even better community asset while allowing their business to remain competitive in a changing marketplace,” said Reed Moulds, Managing Director at Sand Hill Property Company. “Given the continued uncertainty in Cupertino, we understand the business decision they’ve made and recognize Sunnyvale might offer a more stable solution right now. We however worked very hard to negotiate a commitment from AMC to return to Vallco if our planning effort results in the City’s timely approval of a viable project, by year end 2018.”
The AMC movie theater had opened on April 2007 at Cupertino Square with a noon ribbon-cutting ceremony led by Cupertino Mayor Kris Wang. AMC Cupertino Square 16 will close at the end of business on March 22, 2018 leaving behind disappointed moviegoers. The mall’s remaining tenants — restaurants Benihana and Dynasty, an ice rink, fitness center Bay Club, and Bowlmor, a bowling alley and arcade will be impacted by the reduced footfall.
Ritu Marwah is the Features Editor at India Currents and has written on the history of Vallco mall. Read Hills of Cupertino Are Alive With the Sound of Dissension