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.
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.
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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