Thank you for sharing!

Your article was successfully shared with the contacts you provided.

PORTLAND-The Rouse Co. says it is negotiating with at least a couple of theater chains interested in taking over the half-completed arthouse theater that occupies the top floor of the company’s Pioneer Place II retail development in Downtown Portland.

The 32,000-sf space was to be one of Robert Redford’s new-concept Sundance theaters, with seven movie screens, an organic-foods restaurant, a microbrew-and-wine bar, an art gallery, live performance programming and retail space. Sundance abandoned the facility last November after losing its money partner General Cinemas to bankruptcy.

Laurence Brocato, the Los Vegas-based commercial development manager for Maryland-based Rouse, tells GlobeSt.com that since Sundance has not found a financial partner with which to move forward, Rouse has been moving forward on its own.

“We have two prospects to do a theater along the same lines; one of them is an existing operator and the other is a new operator,” says Brocato. “People have looked at the space and liked it; we should know whether a deal can be done in the next four-to-six weeks.”

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 Fall 2021Event

This conference brings together the industry's most influential & 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.