Sears has selected "Sears Centre" as the name for the new arena planned for development in Hoffman Estates.
Sears and the Chicago office of Ryan Companies US, Inc. last Fall announced plans to build an 11,000-seat multi-purpose family entertainment, cultural and sports center within Hoffman Estates' Prairie Stone Business Park. The arena is expected to attract 750,000 visitors to more than 135 events annually and be a significant boon to the local economy. Sears secured the naming rights for the arena as part of a 10-year agreement.
"We're proud to have Sears as part of the name of the new arena, because we believe the 'Sears Centre' will provide area families with new and exciting ways to spend time together," said Robert J. O'Leary, Sears' senior vice president of public relations and government affairs. "We also think the Sears Centre will be an economic catalyst, not only for Prairie Stone, but for Hoffman Estates and the surrounding areas, and we are very encouraged by the interest shown in the facility so far."
The naming of the arena follows the announcement by the United Hockey League that it plans to expand its league and will add a team that will call the "Sears Centre" its home beginning with 2006-2007 season. With pre-season and playoff games, a UHL franchise can expect to play 40-46 home games per year.
"The naming of the arena, the announcement by the United Hockey League, the appointment of Steve Hyman as executive director of the facility and our ongoing design work, all are further shaping the identity of and creating positive momentum for the project," said Jeff Smith, president of the Midwest Division of Ryan Companies US, Inc.
Ryan Companies will serve as the General Partner of the partnership and own a 75 percent interest in the partnership. Ryan Companies also will provide design, development and construction services. Sears will hold the remaining 25 percent interest and contribute the land for the development.
Seating capacity for the "Sears Centre" will be up to 6,000 for theater productions, 9,000 for hockey and soccer games, 10,000 for basketball and 11,000 for "center stage" concerts. Parking for the arena will accommodate 2,500 vehicles. The arena will feature 40 conference suites and 1,000 club seats with the balance being "general admission" seats. The facility will feature a private club, with complete restaurant service, and six locker and dressing rooms.
Events the partnership expects to host include family entertainment shows, concerts, ice shows, family programs, hockey games, arena football games, college basketball tournaments, tennis matches and tournaments, boxing matches and exhibitions.
Sears, Roebuck and Co. is a leading broadline retailer providing merchandise and related services. With revenues in 2004 of $36.1 billion, the company offers its wide range of home merchandise, apparel and automotive products and services through more than 2,300 Sears-branded and affiliated stores in the U.S. and Canada, which includes approximately 870 full-line and 1,100 specialty stores in the U.S. Sears also offers a variety of merchandise and services through sears.com, landsend.com and specialty catalogs. Sears is the only retailer where consumers can find each of the Kenmore, Craftsman, DieHard and Lands' End brands together - among the most trusted and preferred brands in the U.S. The company is the largest provider of product repair services with more than 14 million service calls made annually.
About Ryan Companies US, Inc.
Ryan Companies US, Inc. is a leading national commercial real estate firm offering integrated design-build and development as well as asset, property and facilities management services to customers. For more than 66 years, Ryan Companies has used a single-source approach that offers flexibility in defining the scope of a project and strength in providing effective, timely solutions resulting in a higher certainty of success. In addition to its Chicago office, Ryan has offices in Minneapolis, Phoenix, Cedar Rapids, Davenport and Des Moines, Iowa.
SOURCE: Sears, Roebuck and Co.
CONTACT: Sears Media Contact, Chris Brathwaite, +1-847-286-4681, or Ryan
Media Contact, Michael Millar, +1-312-644-7211
Web site: http://www.sears.com/