Landmark Theaters Arrives on Playhouse 7 Theater Terms – Pasadena Now
Landmark Theaters President Kevin Holloway announced today that Landmark Theaters has entered into a long-term lease agreement for the Playhouse 7 theater on Colorado Boulevard.
The seven-screen, 1,300-seat venue will reopen this summer in Pasadena’s arts and culture district.
“The acquisition of Playhouse is significant for Landmark as we are able to continue the tradition of bringing quality films to the Pasadena film community. This theater has a deep history, which we look forward to honoring and building on in the years to come,” said Holloway.
Michael Fant, executive vice president of Landmark Theaters, is leading negotiations with GD Realty to operate the theater.
“It is extremely gratifying to be able to continue to serve the community with an art house theatre. We are invested in supporting the arts in the Pasadena Playhouse Village area,” said Arash Danialifar.
Laemmle Theaters announced in February the sale of its 22,897-square-foot Pasadena location on Colorado Boulevard near El Molino Avenue in the city’s trendy Playhouse Village neighborhood to Los Angeles-based owner and developer GD Realty Group. of urban commercial real estate in prime Southern California locations.
According to a statement released at the time of the announcement, the sale also included a sale-leaseback that would allow the theater to continue operating, which Pasadena Now reported.
Under a sale-leaseback agreement, the company that sells an asset leases all or part of that same asset to the buyer.
But when plans to redesign the property reached the Design Commission, there was no room for the cinema. Earlier this year, the Pasadena Now reporter, the city, was working with the city to find a solution that would allow the theater to stay.
Landmark Theaters will upgrade the theater’s sound and projection systems and in the coming months after opening will complete a facility upgrade to reflect Landmark’s luxurious style, including the installation of modern, comfortable seating.
At the concession stand, offerings will be expanded to include new gourmet and healthy food items, alongside traditional movie theater favorites including Orville Redenbacher Popcorn and Real Butter.
Beer and wine will continue to be available, with plans to expand the offering to full spirits.
Playhouse 7 opened on February 5, 1999. It was built by Laemmle Theaters from the ground up and was continuously operated by the family-run arthouse chain.
Founded in 1974, Landmark Theatres, the nation’s largest specialty theater chain, is dedicated to high-quality independent and mainstream cinema with 178 screens in 24 markets.