Beverly Hills, CA-based RP Realty Partners bought the retail section of the Plaza and hired CB Richard Ellis to lease the second-floor theater and remaining ground-floor retail spaces. CBRE senior associate Bobby Palta and first vice president Wood Belcher secured the theater tenant in April 2008 and executed the lease in August. RP Realty secured financing through the City of Orlando and began construction in February of this year.
The 57,000-square-foot theater is being operated by Las Vegas, NV-based American Theatre Corp. and includes two larger screens with digital high-definition projection systems that can show 3-D movies. More than 1,100 leather rocker seats are available, along with concessions ranging from candy and popcorn to caviar and champagne.
"The response has been overwhelming. This is truly a first class theater located in the heart of Downtown Orlando," Palta says, adding that the Plaza Cinema Cafe 12 will be an entertainment destination for visitors as well as local residents and workers. Movie ticket prices range from $4.50 for matinees to $9.50 for evening shows.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.
