Monopoly Experience Takes 50K-SF Entertainment Space in Times Square

Mr. Monopoly is making good on his promise to “own it all” (or at least lease it all).

London-based Path Entertainment Group signed a lease for 49,982 square feet at SJP Properties’ 11 Times Square for its immersive Monopoly experience, according to The Real Deal, which first reported the news.

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The asking rent was $160 per square foot, TRD reported. The length of the lease was unclear.

Path Entertainment’s immersive Atlantic City-based board game experience is already operating in London, Denver and Riyadh, Saudi Arabia, according to its website.

The company announced in June a U.S. tour for the Monopoly experience, in which players can complete challenges, build houses, charge rent and escape jail on a life-size board, according to the website.

“Denver is the perfect kickoff point for the U.S. tour of Monopoly Lifesized: Travel Edition,” Matt Proulx, senior vice president of global experiences at Hasbro, said in a statement at the time. “This exciting venture brings the beloved board game to life on a grand scale, offering participants an immersive experience like no other.”

Rielly Retail Solutions’ Michael Rielly brokered the Times Square deal for Path while Cushman & Wakefield’s Alan Schmerzler and Jason Greenstone represented the landlord, according to TRD.

A spokesperson for C&W declined to comment, while spokespeople for Rielly Retail, Path and SJP did not immediately respond to requests for comment.

SJP, which developed the 1.1 million-square-foot office building with Prudential Real Estate Investors in 2011, hasn’t had a tenant in the space since it was leased to Lionsgate Entertainment and Spanish theme park company Parques Reunidos in 2018 for a planned film experience (which never took form), according to TRD.

The new Monopoly entertainment space will cover the ground floor, second floor and lower levels of 11 Times Square, which sits on Eighth Avenue between West 41st and 42nd streets.

New York City’s Monopoly experience is not set to open until next year, TRD reported.

This isn’t Path Entertainment’s first venture into New York City. It also brought the “Dungeons & Dragons The Twenty-Sided Tavern” off-Broadway show to Stage 42 at 422 West 42nd Street in May, according to TRD.

Isabelle Durso can be reached at idurso@commercialobserver.com.