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SAN CLEMENTE, CA-A private investor has purchased San Clemente’s historic Miramar Theater in a deal valued at nearly $2 million.

In addition to the theater, a neighboring bowling alley has been acquired as part of the transaction. The cinema, which dates back to 1937, currently stands vacant. Although the movie house and the 55-year-old bowling alley are on the city’s list of historic properties, the buyer, Steven Delson, will most likely redevelop the site.

Escrow on the property is currently open, but will close when the necessary development approvals are secured from the California Coastal Commission and the city.

There has been a recent trend towards refurbishing older theaters, especially as some of the megaplexes have been shuttered due to bankruptcies. Costa Mesa’s 62-year-old Whittier Village Cinemas just underwent a renovation of its own, which included a $600,000 stadium seating retrofitting. Other improvements at the cinema included the addition of a video arcade and more restrooms.

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