Washington Prime Group Inc. (NYSE: WPG) today announced that
FieldhouseUSA recently opened its state-of-the-art 90,000 SF
complex at Polaris Fashion Place®. A community based, multi-purpose
indoor facility that offers a variety of sporting activities, and
skill levels, where everyone has a place to play. FieldhouseUSA
provides an experience of a lifetime for all who enter.
FieldhouseUSA Columbus features:
- Year-round play in team sports such as basketball and
volleyball;
- Eight hardwood volleyball courts, which can be converted to
five basketball courts, powered by Mintonette Sports and offering
year-round leagues, training programs, camps and more;
- Year-round cheer and tumble programs;
- Airhouse Adventure Park featuring trampolines, dodgeball,
active play, and climbing elements;
- Youth programs, all-sports camps, and lock-ins;
- Program and conference space;
- Birthday parties and corporate events;
- Wrap around spectator bar seating with electrical outlets
throughout;
- Spacious parking, and
- Easy access to shopping, dining, and entertainment at Polaris
Fashion Place.
Lou Conforti, CEO and Director of Washington Prime Group stated:
“As you all know, I tend to become really excited when a new tenant
partner becomes part of the Washington Prime Group family. Just
imagine my ecstatic exuberance when a world class athletic venue
focusing upon team-oriented sporting events and tournaments (and a
whole lot more) catering to all ages opens for business within one
of our assets.”
“Furthermore, and at the risk of needing a cold shower to reduce
my escalating body temperature, what if I were to tell you this
location is estimated to attract ~1.5M guests (not a typo) per
annum,” Conforti added. “I am truly thrilled to welcome
FieldhouseUSA to Columbus and it’s not only because they provide a
differentiated and dynamic complement which is symbiotic to Polaris
Fashion Place’s existing tenancy. They also have a senior
management team which is comprised of consummate professionals and
who, by the way, are some of the finest folks I’ve ever met.”
FieldhouseUSA Columbus hosts a wide range of events and
tournaments, which cater to the select, club and recreational teams
across the U.S. These tournament series generate sales tax dollars
annually and will have a major economic impact for Columbus and
surrounding areas. FieldhouseUSA Columbus looks to average over
1.5M visitors annually and is geared for both recreational and
competitive athletes. FieldhouseUSA Columbus is expected to draw a
significant increase in annual visitors, benefitting existing
tenants and generating strong future leasing demand for both retail
and mixed uses at Polaris Fashion Place.
“We are pleased to bring this incredible opportunity to both
Polaris Fashion Place, as well as the neighboring communities.
Residents will enjoy an exceptional multi-purpose indoor sports
adventure EXPERIENCE and all of the amenities and privileges of a
state-of the-art facility,” comments Gary L. Oliver, a Principal
and CEO of FieldhouseUSA. “We want to thank our partner Washington
Prime Group once again and those involved in bringing this facility
to life and on behalf of my partners, Terry Casey, John Vines and
Adam Bishop we look forward to serving the Columbus community for
many years to come.”
Oliver added, “We are extremely pleased to add Mintonette Sports
to our team as a permanent partner inside the Columbus Fieldhouse
facility as they bring an instant following in the Columbus market
with a 24-year track record in youth sports.” Along with other
FieldhouseUSA partners Mintonette Sports will host a variety of
events throughout the year, including tournaments, leagues,
training programs, camps, practices and other hard-court
programs.
FieldhouseUSA will also provide other amenities inside the
Polaris location including a cheer and tumble program, a child
development training center focused on mental, physical &
character development for ages walking through 18 years old as well
as the Airhouse Adventure Park featuring more than 30,000 SF of
trampolines, Xtreme Dodgeball, Battle Beam, Log Roll, Bouldering
Wall, Racing Zipline, Valo Jump, Basketball, Aero Strike, Wipeout,
Ninja Course, Soft Play, and numerous Climbing Elements. In the
continued need to address the COVID-19 pandemic, Airhouse Adventure
Park will have a delayed opening and is expected to welcome guests
in the summer of 2021.
Todd Christian, Director of Operations of Airhouse commented:
“Airhouse Adventure Park is wAIR your next great adventure begins.
I am excited to engage this great community of Columbus, Ohio and
its surrounding cities in a fun, safe and sanitized adventure park.
We look forward to bringing your friends and family together to
celebrate birthdays or other fun occasions with us in one of our
party rooms. I am eager to get involved with the local schools and
communities, to bring them into our adventure park for some of our
fun and friendly activities such as our Ropes Course, Ninja Course
and my favorite, Xtreme Dodgeball. I am confident that our
beautiful Columbus location will provide more than just an indoor
adventure park for everyone to enjoy year-round, but also great
memories to share for years to come. I see a great future for
Airhouse Adventure Park as we aim to build more locations, bring
employment to more cities around the U.S., and strengthen our
communities one location at a time.”
Polaris Fashion Place and FieldhouseUSA remain focused on
providing a safe and enjoyable experience for everyone.
FieldhouseUSA will operate in accordance with CDC guidelines and
federal, state and local regulations, recommendations and mandates
regarding the COVID-19 pandemic. FieldhouseUSA’s rigorous
disinfectant and cleaning practices will continue many times per
day, including periodically disinfecting areas most susceptible to
the spread of germs.
The addition of FieldhouseUSA demonstrates Washington Prime
Group’s commitment to the community while illustrating its mandate
to diversify tenancy and further solidify the lifestyle center as
dominant hybrid town centers offering a dynamic mix of retail,
dining, entertainment, sports and wellness options. Investments and
improvements made at Polaris Fashion Place provide numerous
benefits to the Columbus, Ohio area.
About FieldhouseUSA
FieldhouseUSA has developed and currently operates three
facilities, with two more currently under construction.
FieldhouseUSA is a multi-purpose indoor facility that offers a
variety of sporting activities, and skill levels, where everyone
has a place to play while creating an amazing EXPERIENCE for ALL
that enter the FieldhouseUSA doors! Learn more at
https://fieldhouseusa.com/.
About Washington Prime Group
Washington Prime Group Inc. is a retail REIT and a recognized
leader in the ownership, management, acquisition and development of
retail properties. The Company combines a national real estate
portfolio with its expertise across the entire shopping center
sector to increase cash flow through rigorous management of assets
and provide new opportunities to retailers looking for growth
throughout the U.S. Washington Prime Group® and Polaris Fashion
Place® are registered trademarks of the Company. Learn more at
www.washingtonprime.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of 1995
which represent the current expectations and beliefs of management
of Washington Prime Group Inc. (“WPG”) concerning the proposed
transactions, the anticipated consequences and benefits of the
transactions and the targeted close date for the transactions, and
other future events and their potential effects on WPG, including,
but not limited to, statements relating to anticipated financial
and operating results, the Company’s plans, objectives,
expectations and intentions, cost savings and other statements,
including words such as “anticipate,” “believe,” “confident,”
“plan,” “estimate,” “expect,” “intend,” “will,” “should,” “may,”
and other similar expressions. Such statements are based upon the
current beliefs and expectations of WPG’s management, and involve
known and unknown risks, uncertainties, and other factors which may
cause the actual results, performance, or achievements of WPG to be
materially different from future results, performance or
achievements expressed or implied by such forward-looking
statements. Such factors include, without limitation; the Company
has determined that there is substantial doubt about its ability to
continue as a going concern; there is no assurance that the Company
will be able to reach an agreement in principle regarding a
restructuring, comply with the terms of any such agreement or
successfully complete a restructuring contemplated thereby,
creating substantial doubt about WPG’s ability to continue as a
going concern; the Company may seek the protection of a bankruptcy
court, which would subject it to the risks and uncertainties
associated with bankruptcy and may harm the Company’s business and
place its equity holders at significant risk of losing all of their
investment in the Company; the Company’s limited liquidity could
materially and adversely affect its business operations; changes in
asset quality and credit risk; ability to sustain revenue and
earnings growth; changes in political, economic or market
conditions generally and the real estate and capital markets
specifically; the impact of increased competition; the availability
of capital and financing; tenant or joint venture partner(s)
bankruptcies; the failure to increase store occupancy and
same-store operating income; risks associated with the acquisition,
disposition, (re)development, expansion, leasing and management of
properties; changes in market rental rates; trends in the retail
industry; relationships with anchor tenants; risks relating to
joint venture properties; costs of common area maintenance;
competitive market forces; the level and volatility of interest
rates; the rate of revenue increases as compared to expense
increases; the financial stability of tenants within the retail
industry; the restrictions in current financing arrangements or the
failure to comply with such arrangements; the liquidity of real
estate investments; the impact of changes to tax legislation and
WPG’s tax positions; losses associated with closures, failures and
stoppages associated with the spread and proliferation of the
coronavirus (COVID-19) pandemic; to qualify as a real estate
investment trust; the failure to refinance debt at favorable terms
and conditions; loss of key personnel; material changes in the
dividend rates on securities or the ability to pay dividends on
common shares or other securities; possible restrictions on the
ability to operate or dispose of any partially-owned properties;
the failure to achieve earnings/funds from operations targets or
estimates; the failure to achieve projected returns or yields on
(re)development and investment properties (including joint
ventures); expected gains on debt extinguishment; changes in
generally accepted accounting principles or interpretations
thereof; terrorist activities and international hostilities; the
unfavorable resolution of legal or regulatory proceedings; the
impact of future acquisitions and divestitures; assets that may be
subject to impairment charges; significant costs related to
environmental issues; changes in LIBOR reporting practices or the
method in which LIBOR is determined; and other risks and
uncertainties, including those detailed from time to time in WPG’s
statements and periodic reports filed with the Securities and
Exchange Commission, including those described under “Risk
Factors”. The forward-looking statements in this communication are
qualified by these risk factors. Each statement speaks only as of
the date of this press release and WPG undertakes no obligation to
update or revise any forward-looking statements to reflect new
information, subsequent events or circumstances. Actual results may
differ materially from current projections, expectations, and
plans, if any. Investors, potential investors and others should
give careful consideration to these risks and uncertainties.
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