The 77,400-sf theater, which opened in 2000, is situated on about eight acres. It is one of the highest-grossing theaters in that market. Crown Theatres is the exhibition company that operates the theater in a long-term net lease.
"We are quite pleased with this acquisition, as we gladly welcome Crown Theatres to our growing family of tenants," David M. Brain, president and CEO of Entertainment Properties Trust, says in a statement. "We feel this transaction continues to illustrate our commitment toward building a portfolio of high-performance properties."
Entertainment Properties Trust focuses on acquiring high-quality real estate assets leased to location-based entertainment operators. Since November 1997, the REIT has acquired more than $900 million in properties.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
