F1® Arcade will open a 15,000 sq. ft. venue at The Interlock in Atlanta, enhancing its entertainment offerings.
Quiver AI Summary
Armada Hoffler announced that F1® Arcade, the first Formula 1® hospitality brand, has signed a lease for over 15,000 square feet at The Interlock in West Midtown, Atlanta. This lease increases the retail occupancy of The Interlock to 99%, enhancing its status as a premier destination for residents and visitors. F1® Arcade will offer an immersive entertainment experience featuring state-of-the-art racing simulators, a vibrant dining scene with a variety of globally inspired dishes, and a distinctive bar serving cocktails, wines, and non-alcoholic options. F1 Arcade's arrival follows its successful openings in Boston and Washington D.C., and it aims to attract Atlanta fans with its adrenaline-packed racing experience.
Potential Positives
- Armada Hoffler achieved 99% retail leased occupancy at The Interlock, indicating strong demand and successful leasing strategies.
- The addition of F1® Arcade enhances The Interlock's reputation as a premier destination for entertainment, potentially increasing foot traffic and customer engagement.
- F1® Arcade's unique offering complements existing attractions at The Interlock, contributing to a diverse and appealing retail environment.
- The expansion into Atlanta signifies F1® Arcade's growth and success, reflecting positively on Armada Hoffler's investment in high-quality, dynamic developments.
Potential Negatives
- The press release does not mention any anticipated revenue or financial impact from the new lease with F1® Arcade, leaving stakeholders without critical information regarding its potential value to Armada Hoffler.
- There is a lack of information about the competitive landscape, which could raise concerns about how well F1® Arcade will perform amidst existing entertainment options in Atlanta.
- Despite the positive tone, the announcement may signal a reliance on a single tenant's success for achieving high occupancy, which could expose the company to risks if F1® Arcade does not meet performance expectations.
FAQ
What is F1® Arcade at The Interlock?
F1® Arcade is the world’s first Formula 1® hospitality brand offering immersive entertainment and dining experiences in Atlanta.
How large is the new F1® Arcade location?
The new F1® Arcade location spans over 15,000 square feet at The Interlock in West Midtown, Atlanta.
What amenities will F1® Arcade provide?
F1® Arcade features state-of-the-art simulators, dining options, and a unique social environment for a broad range of customers.
What dining options are available at F1® Arcade?
The menu includes globally inspired dishes like Wagyu Beef Sliders, Ahi Tuna Tostadas, and Seafood Towers, along with a bar serving cocktails and mocktails.
Who represents Armada Hoffler in the F1® Arcade transaction?
Drew Lewis and Alan Shaw of The Shopping Center Group represented Armada Hoffler in the F1® Arcade lease transaction.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$AHH Insider Trading Activity
$AHH insiders have traded $AHH stock on the open market 15 times in the past 6 months. Of those trades, 14 have been purchases and 1 have been sales.
Here’s a breakdown of recent trading of $AHH stock by insiders over the last 6 months:
- A RUSSELL KIRK has made 3 purchases buying 97,106 shares for an estimated $1,019,638 and 0 sales.
- DANIEL A HOFFLER purchased 95,238 shares for an estimated $999,999
- LOUIS S HADDAD (CEO) purchased 95,238 shares for an estimated $999,999
- ERIC E. APPERSON (President of Construction) sold 20,000 shares for an estimated $220,376
- FREDERICK BLAIR WIMBUSH has made 4 purchases buying 9,905 shares for an estimated $103,897 and 0 sales.
- DENNIS H. GARTMAN has made 2 purchases buying 9,000 shares for an estimated $97,628 and 0 sales.
- JAMES C. CHERRY purchased 4,761 shares for an estimated $49,990
- JAMES A CARROLL purchased 2,857 shares for an estimated $29,998
- GEORGE F ALLEN purchased 952 shares for an estimated $9,996
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$AHH Hedge Fund Activity
We have seen 134 institutional investors add shares of $AHH stock to their portfolio, and 98 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- BLACKROCK, INC. added 1,904,111 shares (+15.1%) to their portfolio in Q4 2024, for an estimated $19,479,055
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Full Release
VIRGINIA BEACH, Va., March 10, 2025 (GLOBE NEWSWIRE) -- Armada Hoffler (NYSE: AHH) announced that F1® Arcade, the world’s first Formula1® hospitality brand, has signed a lease for over 15,000 square feet of space at The Interlock, the dynamic mixed-use development located in the heart of West Midtown, Atlanta, bringing the total retail leased occupancy to 99%.
The new F1 ® Arcade location will bring an exciting and immersive entertainment experience to The Interlock, further enhancing the property's reputation as a premier destination for both West Midtown residents and visitors. F1 ® Arcade offers an interactive, Formula 1-inspired experience with state-of-the-art simulators, high-energy entertainment, and dining options, creating a unique social environment that will appeal to a wide range of customers.
“We are thrilled to welcome F1 ® Arcade to The Interlock,” said Shawn Tibbetts, Chief Executive Officer and President at Armada Hoffler. “F1 ® Arcade is unique to the market and complements our existing line-up of tech-infused, immersive experiences. The Interlock will continue to be a top destination in Atlanta.”
The Interlock is a premier mixed-use development that combines modern office and retail spaces. Known for its architectural design, vibrant amenities, and prime location, The Interlock is quickly becoming one of the most sought-after destinations in West Midtown, Atlanta. The addition of F1 ® Arcade further solidifies The Interlock's position as a key player in the city's evolving landscape.
In addition to the high-speed racing concept, guests at F1 Arcade can also enjoy an exceptional menu, which features a mouthwatering range of globally inspired dishes, from sharing dishes like Wagyu Beef Sliders, Ahi Tuna Tostadas, to show-stopping Seafood Towers. The venue will also showcase F1 Arcade’s distinctive bar, creating a focal point for the room, and serving a wide range of drinks, from handcrafted signature cocktails and fine wines to craft beers and ciders. F1 Arcade will also serve their ‘Designated Drivers’ mocktails, full of flavor without the alcohol.
“We are excited to announce our expansion into the South as we bring our adrenaline-packed experience to Atlanta following our success in Boston and Washington D.C. Known for its rich sports and food scene, Atlanta is a perfect fit for the next phase of F1 Arcade's growth,” said Liz Norris, Launch Lead at F1 Arcade. “Southern fans will be able to put their racing skills to the test on the world’s most iconic tracks, while enjoying top-tier food and drinks in a thrilling atmosphere.”
Drew Lewis and Alan Shaw of The Shopping Center Group represented Armada Hoffler in the transaction. Robert Johnson with Emerging Concepts represented the tenant in the transaction.
About Armada Hoffler
Armada Hoffler (NYSE: AHH) is a vertically integrated, self-managed real estate investment trust (“REIT”) with over four decades of experience developing, building, acquiring, and managing high-quality office, retail, and multifamily properties located primarily in the Mid-Atlantic and Southeastern United States. We also provide general construction and development services to third-party clients, in addition to developing and building properties to be placed in our stabilized portfolio. Founded in 1979 by Daniel A. Hoffler, Armada Hoffler has elected to be taxed as a REIT for U.S. federal income tax purposes. For more information visit ArmadaHoffler.com.
Contact:
Chelsea Forrest
Armada Hoffler
Vice President of Corporate Communications and Investor Relations
Email: [email protected]
Phone: (757) 612-4248
