HOLLYWOOD-The locally based CIM Group has acquired the historic Grauman’s Chinese Theatre, a world-famous venue where stars have left their footprints for years. The theater, which for some years has been operated by the Mann chain, is one of the top tourist attractions in the L.A. area and adds to a growing portfolio of CIM Group properties in Hollywood.

The CIM Group, which also owns the adjacent Hollywood & Highland Center, has been interested in acquiring the theater property since it bought Hollywood & Highland in 2004, according to John Given, a principal at CIM. CIM Group acquired Grauman’s from the Damon Runyon Cancer Research Center and Barlow Respiratory Hospital.

Built in 1927 by Sid Grauman, the theater has long been a showcase for Hollywood movie premieres. The 1,162-seat, 43,310-sf theater is operated under an existing long-term lease with Mann Theatres and remains one of the top venues for high-profile movie premieres. With more than 200 celebrity hand and foot prints, its Forecourt of the Stars attracts approximately 19 million visitors each year.

CIM calls its new acquisition “one of the most recognizable buildings in the world.” The building is known for its 90-foot pagoda-style entrance and a 30-foot high dragon carved from stone by Chinese artisans that Grauman enlisted to create the statuary for the theater.

Terms of the theater sale were not disclosed. The sellers were represented in the transaction by Chris Hoffman and Rikki Keating of Eastdil Secured.

CIM’s Given says that the new acquisition is a complementary fit to the company’s adjacent Hollywood & Highland Center and the Renaissance Hollywood Hotel. The Hollywood & Highland Center comprises 387,000 sf of national and local fashion and luxury retailers, along with clubs, restaurants and the 3,400-seat Kodak Theatre.

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?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper


GlobeSt Net Lease Spring 2024Event

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 © 2024 ALM Global, LLC. All Rights Reserved.