ArcLight Cinema Backs Out of Lincoln Square

BELLEVUE, WA-ArcLight Cinema Company and owners of the stalled Lincoln Square development have terminated a lease agreement for an 86,000-sf movie theater, according to documents filed with the King County Recorders office in mid January.

The separation leaves a bank branch as the only signed tenant for the 1.4-million-sf commercial, residential and hotel development across from Bellevue Square, one of the largest mixed-use construction projects in the nation. Construction of the project halted last summer in response to the sagging economy and has yet to resume.

A representative of ArcLight, a division of Los Angeles-based Pacific Theaters Corporation, did not return a Tuesday phone call seeking comment. According to the documents filed with the county, the movie theater signed a 20-year lease agreement with four five-year extension options for the ground and mezzanine levels of the project’s 315,000-sf retail piece, which was originally slated to open as early as last fall. The project also includes high-rise office and residential towers.