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[29] [30] In May 2023, Regal reached a new lease agreement with the galleria to continue operating the theater. [31] In September 2022, it was announced that Hertz would move its HQ to Sherman Oaks Galleria in which move represents office reduction. Robert Licht said that there would be a ton of internal consideration that goes to an investment.
The company said it planned to close dozens of locations in the U.S., including one at the Sherman Oaks Galleria, itself a former ArcLight. As of this week, the Sherman Oaks theater remains open.
On June 19, 2021, Regal Cinemas acquired the lease of the location of the former ArcLight at Sherman Oaks Galleria. Regal planned a $10 million renovation with the addition of IMAX, Regal RPX, ScreenX, & 4DX auditoriums. [24] [25] The theater reopened in July 2021 as part of the Regal chain. [26]
The Paseo is an outdoor mall in Pasadena, California, covering three city blocks with office space, shops, restaurants, a movie theater, and 400 loft-style condominiums (called Terrace Apartment Homes) above.
It suffered a combined loss of more than $3.3 billion over 2020 and 2021, and has so far shuttered 51 of its Regal theaters in the United States. The “Barbenheimer” bounce.
The second-largest cinema chain in the United States is planning to close 39 movie theaters nationwide, including the South Beach theater.
Landmark Theatre Corporation began as Parallax Theatres and was founded in 1974 by Kim Jorgensen with the opening of the Nuart Theatre in Los Angeles, the Sherman in Sherman Oaks, the Rialto in South Pasadena, and the Ken in San Diego. Steve Gilula and Gary Meyer became partners in 1976, as the chain expanded as Landmark. [5]
Target is closing 9 stores in 4 states (all blue). Walgreens is closing 900 stores (mostly blue),” the post reads. All three retail chains have closed, or plan to close, multiple store locations.