This past summer we let you know that Realty Income Corporation is looking to sell its 7-acre property at 20000 Century Blvd in Germantown, which is currently home to the Regal Germantown movie theater. An employee at the theater has confirmed that Regal will close its Germantown location permanently on Sunday, December 1st. Rockville and Silver Spring locations will continue to operate normally.
The theater opened 22.5 years ago, in May 2002, as part of Hoyts Cinema. Less than a year later, in March 2003, Regal acquired a total of 52 Hoyts theatres representing 554 screens in exchange for approximately $100 million in cash, 4.8 million shares of Regal Entertainment Group Class A Common Stock and the assumption of certain capital leases. This included the Germantown, MD location, which has operated under Regal ever since
Per the listing: “Located on Century Boulevard just off of Germantown Road and Route I-270, the Site totals 7.01 acres (305,355 square feet) across two parcels. The Property contains a 58,782-square-foot, two-story movie-theater complex. Constructed in 2002, the building is currently leased to Regal Cinemas through September 30th, 2024 and transfers to month-to-month afterward. The structure’s footprint occupies approximately 20% of the Property, with the balance consisting of a surface parking lot totaling 587 spaces.”
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