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- Freestanding Absolute NNN Zero Landlord Responsibility Corporate Guaranteed Regal Luxury Movie Theater. Regal Cinemas, Inc., a subsidiary of the Cineworld Group, has occupied the 10-screen 1,766 seat Theater since 1998 and just inked a corporate guaranteed lease extension through November 2023, showing commitment to the location. The vibrant downtown of Visalia attracts various quality tenants surrounding the location bringing great synergy for Regal to flourish. Well known and established Movie Theater building in a highly traveled area off the "Main and Main" of Downtown Visalia. Visalia's downtown zoning motivates businesses to be located (and thrive) within the downtown area through incentives and zoning allowances.
This safe and secure deal houses a corporate tenant on only $18.44/SF/YEAR rent, making them an extremely profitable and lucrative location. As a build-to-suit in 1998, Regal has continued a long term 22-Year occupancy with various recent tenant improvements including a newly remodeled interior, freshly updated amenities, and a pristine exterior with lush landscaping and like-new feel. The 33,897 SF building sits across from a 5-story City of Visalia maintained FREE parking lot and is conveniently located in the center of town. With 24 years left in the options through November 2043, this property will experience a dramatic increase in NOI with market rent. Great opportunity for a long term investor looking for a corporate guarantee and a Tenant who pays expenses direct.
This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.
Listing provided courtesy of
Jared Ennis, KW Commercial Central California