Harbor East Theater in Fells Point, Md. Photo by Landmark.SEATTLE–Oh the irony. Amazon, the e-commerce giant credited in part with the retail sector's current difficulties, is competing to buy an important tenant for many malls: Landmark Theaters. Bloomberg reported this news last night citing people familiar with the situation as sources.
Landmark Theaters, which is owned by Wagner/Cuban Cos., is being wooed by other companies as well, Bloomberg's sources reported. Investment banker Stephens was tapped to help arrange a possible sale.
An acquisition by Amazon would be a significant step for the company, akin to its entry into the grocery space with its purchase of Whole Foods last year. Like it has with Whole Foods, one can imagine that Amazon would add its own digital offerings to the chain of theaters and perhaps incorporating other elements of its retail empire as well — say the sale of Kylo Ren and Luke Skywalker costumes for the next Star Wars movie.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
