Arthouse chain Landmark Theatres has signed into a long-term lease agreement with the Playhouse 7 movie theater in Pasadena.
Located at 673 E. Colorado Blvd., the seven-screen, 1,300-seat venue will reopen under the Landmark banner this summer.
“The Playhouse acquisition is important for Landmark, as we’re able to continue the tradition of showcasing quality films to Pasadena’s moviegoing community,” Landmark Theatres President Kevin Holloway said in a statement.
This theatre has a deep history, which we look forward to honoring and building upon in the years ahead.”
Landmark plans to upgrade the theater’s sound and projection systems and, after the reopening, will complete a renovation of the facilities to reflect Landmark’s luxury format, including the installation of modern seating. The concession stand will be expanded to include gourmet and healthy food items as well as beer and wine.
Leading the negotiations with GD Realty to operate the theatre is Michael Fant, executive vice president for Landmark Theatres. Scott Burns, JLL senior managing director, assisted Landmark Theatres in securing the lease.
“As retail continues to evolve, communities and their residents have an appetite to come together and be entertained,” said Burns. “Landmark Theatres is the perfect partner for the city of Pasadena as it continues to grow its arts and culture district.”
Landmark, which was acquired in 2018 by the Cohen Media Group, operates 35 theaters with a total of 178 screens nationwide. On L.A.’s Westside, Landmark operates the soon-to-be-renovated Nuart Theatre on Santa Monica Boulevard and the recently renovated Landmark Westwood.
Outside of California, Landmark is opening several new theaters this summer, including a nine-screen complex in Annapolis, Md., and a 10-screen, 1,800-seat venue in Glenview, Ill.
The Landmark Pico at the former Westside Pavilion, located at 10850 Pico Blvd., closed at the end of May when negotiations over a lease renewal failed. The arthouse movie theater, which had served moviegoers in West Los Angeles for 15 years, lived up to its
name as an early pioneer of luxury theater, offering beer and wine, gourmet pizza and sofa seating.
Landmark is able to move into the Playhouse 7 because another arthouse specialty theater group will be moving out. The Playhouse 7, which opened on Feb. 5, 1999, was built by arthouse chain Laemmle Theatres from the ground up. Laemmle occupied the space for many years but recently entered into a leaseback deal that expires in June.
Post-pandemic, the challenge for exhibitors such as Landmark and Laemmle who specialize in screening independent cinema and other commercially riskier fare will be to lure moviegoers —especially in the older demographics — back into cinemas, especially after consumers have become more accustomed to an abundance of streaming methods, mainly services such as Netflix and other platforms.
“We’re looking at other options in Pasadena,” Laemmle Theatres President Greg Laemmle told Variety. “It’s not going to ha
ppen right away. It’s a question of real estate. Can exhibition compete in terms of renewing leases?”
