Formula One is making a pit stop in RiNo.
F1 Arcade, which combines a bar and restaurant with dozens of racing simulators, plans to open at 2734 Walnut St. next fall.
It will be one of the first U.S. locations for the U.K.-born concept, which aims to capitalize on growing American interest in Formula One racing.
“I think RiNo has long been the neighborhood for the best restaurants, bars in the city, and we connect with that,” said Jon Gardner, U.S. president of F1 Arcade.
The inaugural U.S. F1 Arcade opened in Boston in April. A Washington, D.C. location opened last month, and others are in the works in Las Vegas and Philadelphia.
In RiNo, F1 Arcade will lease a 15,700-square-foot building that Denver-based Magnetic Capital purchased for $5.25 million in the spring. Magnetic founder Dan Huml said he was approached by a broker representing F1 Arcade after going under contract to buy the property from Chicago-based Golub & Co.
Huml called F1 Arcade “an incredible concept” and said he did “pretty good” when he visited one and tried out racing for himself.
“The simulators really create this immersive experience where you are driving in a real F1 circuit,” he said.
This is the Magnetic’s fourth project in the neighborhood. He also developed the Federales restaurant building at 2901 Larimer St., the Sonder hotel at 3354 Larimer St. and the Brewdog building at 3950 Wynkoop St. The firm also has an office project underway in Cherry Creek.
Gardner said F1 Arcade is aiming for 30 U.S. locations in the next five years. The 69 simulators in RiNo will be full-motion, so guests will feel the turns of the track and hear the roar of engines in their ear.
F1 Arcade has a licensing deal with Formula One, which is owned by billionaire John Malone’s Douglas County-based Liberty Media Corp. Formula One and Liberty Media are investors in F1 Arcade, Gardner said.
While some might hear the word “arcade” and think skee-ball, Gardner said the company’s venues aim to “bring the glitz and glamour” associated with the racing circuit, which has pushed into the U.S. in recent years with races in Las Vegas.
The RiNo restaurant will serve cocktails in the $15 to $20 range and food ranging from a burger and flatbreads to a seafood tower.
No experience will be required to use the venue’s 69 simulators, which can be used by kids as young as seven. While families will be welcome during the day, the venue will be 21+ come 7 p.m. There will be a DJ on Thursday through Saturday.
Pricing depends on group size, but a group of three taking three simulators might pay $29 per person for three races, which could take around 30 minutes, Gardner said. A larger group of 10 might be assigned four simulators, so that people can bounce back and forth between racing, and eating and socializing.
Groups race against each other, Gardner said, while solo customers can race against Formula One legends.
“This is meant to be a shared experience — with friends, on a date, with colleagues,” Gardner said.
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