Regal Cinemas Unloads Older 11-Acre Southern Oregon Theater Property

EUGENE, OR-Knoxville, TN-based Regal Cinemas has sold one of its older theaters here and will slow up shop in the next several weeks, says Larry Reid, director planning and development for the buyer, Eugene-based Arlie & Co. The financials of the transaction are not being released by the company and were not otherwise immediately available, but Reid tells GlobeSt Arlie & Co. paid cash plus “other valuable consideration,” which Reid says includes dibs on other Regal properties that may be sold.

The acquired property is the Movieland Theater, a 35,000-sf, six-screen movie theater on 11.6 acres, five acres of which remains undeveloped, says Reid. The theater will cease operations after their latest movie run, says Reid. “With all the other new theater complexes around here, that one wasn’t paying its weight, I guess,” says Reid.

Arlie & Co. is a buy-and-hold company for the most part. Reid describes the company as a small regional development firm that owns shopping centers, apartment complexes and industrial developments in Northern California, Oregon and Washington. Arlie & CO. affiliates include Arlie Property Management and Black Horse Farms Inc. “We just look for properties that are underdeveloped or vacant,” says Reid. “Sometimes we’re looking for immediate upside and sometimes we purchase and hold and wait for a future project.”