In place of 40-foot ceilings, a second floor of office space was created, and the building was renamed The Tualatin Plaza. It overlooks a city-owned man-made lake fronted by a fountain. A restaurant, hotel and other offices are nearby. The building's two tenants are ITUpside.com and International Woods, a lumber brokerage.

This is not Emami's first theater conversion. Foley's First Commercial Real Estate Advisors is located in the upstairs portion of the former Sellwood Theater in Southwest Portland, another Emami project. Bowling alleys are fair game as well for Foley. Two years ago he converted one in Lake Oswego that is now the McViegh Crossing office building. "He's picking these things up for $30/sf and turning them into $140/sf properties," says Foley.