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Netflix Acquires Historic Egyptian Theatre in Hollywood

by Alex Tostado

Hollywood, Calif. — Netflix has acquired the Egyptian Theatre, a historic property that was originally built in 1922 in Hollywood. Netflix and the American Cinematheque, which purchased the theater in 1996, are collaborating to redevelop and continue operations at the theater. The Egyptian Theatre will remain the home of the American Cinematheque, a nonprofit, member-supported cultural organization, with its curation team continuing to autonomously program Friday, Saturday and Sunday events and showings. Netflix will invest in the property’s renovation and will use the revitalized space for special events, screenings and …

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CaliforniaEntertainmentInvestment salesNewsRetailers

NKF, Highland Partners Negotiate $14 Million Sale of Single-Tenant Retail Property in Hawthorne, California

by Alex Tostado

Hawthorne, Calif. — Newmark Knight Frank (NKF) and Highland Partners have arranged the sale of a retail building located at 14351 Hindry Ave. in Hawthorne. A private family office acquired the property from Hawthorne Gateway, a private Los Angeles-based partnership, for $14 million. Bed, Bath & Beyond occupies the property. Bill Bauman, Kyle Miller, Michael Fogel and Matt Schwartz of NKF and Michael Grannis of Highland Partners represented the seller in the transaction.

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CaliforniaCompany newsEntertainmentNews

24 Hour Fitness Files for Chapter 11 Protection, Opts to Permanently Close 132 Stores

by Alex Tostado

San Ramon, Calif. — Fitness center retail chain 24 Hour Fitness has filed for Chapter 11 bankruptcy protection stemming from revenue losses during the COVID-19 pandemic. The San Ramon-based company expects to secure $250 million in debtor-in-possession financing, which is subject to court approval. The fitness chain has also announced its intention to permanently close 132 of its 300-plus gyms. In California alone, 24 Hour Fitness will shutter 41 locations, and in Texas another 26 will permanently close as the company will focus on reopening its other gyms across the …

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Company newsEntertainmentKansasNews

AMC Theatres Expects to be ‘Fully Open’ Globally in July

by Alex Tostado

Leawood, Kan. — AMC Entertainment Holdings Inc. (NYSE: AMC) plans to reopen almost all of its U.S. and U.K. theaters in July. The Leawood-based movie theater chain has already reopened 10 theaters in Norway, Germany, Spain and Portugal, and expects to be fully open globally in July ahead of the release of Christopher Nolan’s “Tenet” on July 17 and Disney’s “Mulan” on July 24. AMC is working closely with local, national and international officials to coordinate timing and requirements of reopening. It is consulting with the Harvard University School of …

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EntertainmentNewsWest Virginia

West Virginia Enters Next Phase of State’s Reopening Plan, Including Movie Theaters and Casinos

by Alex Tostado

Charleston, W.Va. — West Virginia Gov. Jim Justice on Friday allowed movie theaters and casinos in the state to reopen. Theaters are required to operate with social distancing guidelines in place, including limiting the theater occupancy that will allow for proper distancing, adjusting common area layouts to allow for a six-foot distance between patrons who do not live together, encouraging all patrons and employees to wear personal protective equipment (PPE) and encouraging patrons to purchase tickets in advance to limit cash transactions. For casinos, occupancy must be limited to 50 …

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Company newsEntertainmentKansasNews

AMC Theatres: ‘Substantial Doubt’ Exists Regarding Ability to Stay in Business

by Alex Tostado

Leawood, Kan. — AMC Entertainment Holdings Inc. (NYSE: AMC) says it has “substantial doubt” for its ability to remain in business after shutdowns due to the coronavirus. If the movie theater chain is not able to recommence operations within its estimated timeline, it will require additional capital. The Leawood-based company temporarily suspended operations at all of its theaters through June and is generating no revenue. Even if governmental operating restrictions are lifted in certain jurisdictions, AMC says distributors may delay the release of new films until operating restrictions are eased …

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Company newsEntertainmentFloridaNews

Walt Disney World Resorts Outlines Plan to Begin Reopening July 11

by Alex Tostado

Orlando, Fla. — Walt Disney World Resorts has submitted a proposal to the Orange County Economic Recovery Task Force to begin reopening the Orlando parks July 11. Pending approval, Magic Kingdom and Animal Kingdom will open July 11 and Hollywood Studios and Epcot will reopen July 15. In an effort to limit large gatherings, parades and nighttime fireworks shows will still be indefinitely unavailable. Additionally, “high-touch” experiences, such as makeovers, playgrounds and character meet-and-greets, will also be temporarily unavailable, though characters will still be in the parks. To limit capacity, …

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EntertainmentFloridaNews

Hard Rock Stadium in Miami Gardens to Transform into Drive-In Movie Theater

by Alex Tostado

Miami Gardens, Fla. — With sports absent from Americans’ daily lives due to the COVID-19 outbreak, Hard Rock Stadium in Miami Gardens has pivoted to offer a drive-in movie theater. The 65,000-seat stadium is home to the NFL’s Miami Dolphins and college football’s University of Miami Hurricanes. The field will be able to hold up to 230 cars and the open-air theater will host small groups. Events throughout Dolphins’ team history, family-friendly movies and even commencement ceremonies will be shown. Food and beverages can be purchased through an online system …

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EntertainmentLeasingNew JerseyNewsRetailers

Stumpy’s Hatchet House Signs 14,194-Square-Foot Retail Lease Near New York City

by Alex Tostado

Upper Saddle River, N.J. — Stumpy’s Hatchet House LLP, an entertainment concept that centers on axe-throwing, has signed a 14,194-square-foot retail lease in Upper Saddle River, approximately 30 miles northwest of New York City. The space is located in a 29,795-square-foot building at 107 Pleasant Ave. that also houses The Gravity Vault, an indoor rock climbing concept. The store will be Stumpy’s sixth axe-throwing venue in New Jersey. Conor Ryan and Ryan Bednarski of JLL represented Stumpy’s in the lease negotiations. Samuel Bernhaut and Nicole Nannola of CBRE represented the …

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ArkansasEntertainmentNewsRestaurants

Arkansas Governor: Gyms Allowed to Reopen Monday, Limited Dine-In at Restaurants May 11

by Alex Tostado

Little Rock, Ark. — Arkansas Gov. Asa Hutchinson has rolled out Phase I plans for reopening the state. Hutchinson says gyms and fitness centers will be able to open Monday, May 4, while restaurants will be allowed to operate dine-in services at one-third capacity Monday, May 11. The guidelines for gyms and fitness centers include the use of facemasks for staff and patrons except when exercising, daily temperature checks for employees and patrons and social distancing of at least 12 feet while exercising. Additionally, Hutchinson placed restrictions on patrons who …

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