Real Estate Weekly
Image default
Deals & Dealmakers

Credit rolls as Admiral recruits movie theater

Bedford Playhouse movie theater opened in 1947 to much fanfare, with its state-of-the-art sound system, air conditioning (a rarity in 1947) and beautiful exterior.

But in early 2015, the doors closed. Bow Tie Cinemas, which had taken over the space from Clearview Cinemas, opted not to renew their lease.
Alchemy Bedford LLC, the owner of the building, contracted Joan Simon of Admiral Real Estate Services Corp. to find a new tenant for the space.

Alchemy asked Admiral to try to bring another theater to the space, because a theater is what the village itself wanted.

By May 2015, four months after Bow Tie’s closure, Alchemy had signed a lease with a new state-of-the-art non-profit cinema showing top independent, foreign, documentary and both classic and first-run films.

The new Bedford Playhouse has begun renovations on the space and plans to reopen for business in Spring 2016.

“Admiral is proud to have been involved in the efforts enabling Bedford Playhouse to resume operations, supporting surrounding businesses and encouraging commerce in the area, helping Alchemy in its efforts to keep a theater operating in Bedford,ˮ said Simon.

The new Bedford Playhouse will be reconstructed to incorporate design elements from the golden age of cinema alongside modern technology and high-end concessions and a café selling prepared food.

(Visited 1 times, 1 visits today)

Related posts

Newmark Represents DCG Fulfillment in 190,000-
Square-Foot Warehouse Lease in California’s Inland
Empire

REW

Knighthead Funding Provides $31 Million Refinance Loan for Class-A Office Building

REW

Avison Young to acquire Office and Industrial Property Management, Agency Leasing and Project Management Services from Madison Marquette

REW