Frederick, MD-based PGH Properties acquired the former Regal Germantown Theater, located at 20000 Century Blvd., for $12 million, per a Maryland Newsletters report.
The theater opened a little more than 23 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 operated under Regal until its closure in December 2024.
Prior to the closure, CBRE had been involved in brokering the sale and had even presented the location as a residential development opportunity in the heart of Germantown. Maryland Newsletters reports that future plans for the property remain undisclosed by PGH, so what’s next for the building remains to be seen.