Regal Cinemas Theater Hits the Market at $18.5 Million

  

 ROYAL PALM BEACH, FL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has received the exclusive listing for a freestanding 76,701-square foot net-leased Regal Cinemas movie theater in Royal Palm Beach, a village in central Palm Beach County, Fla.

The listing price of 18.5 million equates to $241 per square foot.

Lori Schneider

 Lori Schneider, a senior vice president investments in Marcus & Millichap’s Fort Lauderdale office, and Dean Zang and Mark Taylor, both first vice presidents investments in the firm’s Philadelphia office, are representing the seller.

            “The Regal Cinemas movie theater in Royal Palm Springs is situated on an exceptionally large lot in a high-growth location that has little land available for development,” says Schneider.

Dean Zang

“The property has an in-place absolute net lease with rent bumps in both option periods,” adds Zang.

            “The theater features 18 screens, all with stadium seating,” puts in Taylor.

The asset is located with excellent frontage and visibility on 23.6 acres at 1003 N. State Road 7 between Okeechobee Boulevard and Belvedere Boulevard, across from the Breakers Rees Jones golf course and the Mayacoo Lakes Country Club. Florida State Road 7 is a major north-south artery that runs from Miami north through Royal Palm Beach.

Mark Taylor

Traffic counts at the property are 60,000 vehicles per day.

National retailers Walmart, Target, Publix, BJ’s Wholesale Club, Bed Bath & Beyond, Ross Dress for Less and Old Navy are located in the immediate vicinity. 

 For a complete copy of the company’s news release, please contact

Ben Johnson,

Marketing Director

(925) 953-1736