Round One Entertainment — a Japanese company that runs Dave & Buster’s-esque entertainment centers featuring bowling, karaoke, pool tables and arcade games — is opening a new location in Temecula’s Promenade mall.
The 50,000 square-foot center will be located on the first floor of the Sears building, according to a city of Temecula press release.
The owner of the building, Seritage Growth Properties, plans to redevelop the first floor to accommodate Round 1, “small shop” retail stores and restaurants. A streamlined version of Sears, which announced earlier this year that it was closing 100 more stores, will continue to operate on the second floor.
New York-based Seritage has engineered similar makeovers to some of its other properties and the end result has been more foot traffic and higher rental rates, according to real estate development firm SimonCRE.
“While Sears was paying roughly $4.40 PSF, these new users are re-leasing the spaces at nearly 4.5 times that rental rate. So, we’re seeing signs of significant value-add opportunities in some of these store closures,” SimonCRE noted in an article last summer.
Round 1, which has a few locations in Southern California, offers beer, wine and food and some locations have video games that are exclusive to the company’s centers.
The Temecula location is expected to open in the spring of 2019, the city’s release states.
“The addition of Round 1 is just another example of how the (mall) is evolving with current retail trends, providing a well-balanced mix of retailers, restaurant offerings and entertainment” said Promenade General Manager Jeff Kurtz in a statement.