Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SEATTLE-Regal Cinemas, plagued by financial woes, says it may pull out of an agreement to build a 12-screen movie theater at Westwood Village, a shopping mall located at the southern end of West Seattle. Regal, the country’s largest movie chain, was expected to be an anchor of the refurbished shopping center, one of the region’s first and oldest neighborhood destination retail complexes.

The company announced in February that it would close 30 percent of its theatres and halt plans for new projects as it works to repay $2 billion in debt. Wesbild Shopping Centers, which owns Westwood Village located at Southwest Barton Street and 25th Avenue Southwest, is gambling that the revamp center will attract solid national names like Old Navy.

Two national-chain restaurants also have been considering sites on the property that serves not only southwest Seattle shoppers but also commuters from nearby Vashon Island. Retailers have had difficulty committing to Westwood Village, which is perceived by many to be too geographically isolated. The median income in the area is greater than the Seattle average.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information

GlobeSt. NET LEASE Awards 2021Event

These awards honor the industry's most influential and knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.