The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
March 28, 2024
 Search RENTV
   Go!
 The REview
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



HOME PAGE NEWS
Printer-friendly Version   Email an Associate
Historic Miramar Theater Property in San Clemente Sells for $7.9 Mil

12/05/19

Fortuitous Partners has acquired the historic Miramar Theatre property in San Clemente, in a recent $7.9 mil transaction. The asset, located at 1700 N El Camino Real, consists of 12.6k sf of improvements on a 26.7k sf site.

Originally constructed in 1938, the asset contains a 7.4k sf theater and a 5.2k sf bowling alley. Fortuitous, based out of Phoenix, plans to renovate the property and convert it into restaurant/commercial uses.

The property was sold by El Camino Real Estate Partners LLC, a local ownership that purchased the property in 2005 with initial plans to develop in alternative uses. After going through Coastal Commission Review and City of San Clemente Planning Review, they were able to get plans in place to redevelop the site for commercial use and preserve the historic theatre structure. In addition to the property having historic designation it is also located in a qualified opportunity zone area.

The Miramar Theater is located along the San Clemente coastline and is a well recognized landmark in the community. The site sits directly across from the beach and is a neighbor to the Ole Hanson Beach House and Casino. The property itself is within walking distance to the San Clemente Metrolink Station and North Beach which has walking trails all along coast.

The Miramar Theater benefits from convenient adjacent public parking (155 stalls) serving the San Clemente Metrolink Station and abundant adjacent street parking. San Clemente is and has been an incubator for some of the best restaurants, retail shops, coffee shops, and microbreweries in the county.

Built in Spanish Colonial style, the design of the theater stays true to Ole Hanson’s plans for San Clemente to be the “Spanish Village by the Sea”. The theater originally seated 750 people and was the foremost location predominant for first movie premiers. The iconic architecture includes a 44 ft tower and adjacent bowling center. The Miramar Theater in conjunction with the Casino was the primary entertainment hub for the coastal community.

Now with Coastal Commission approval the Miramar Theater in San Clemente presents a rare opportunity to restore and reestablish a coastal landmark in Orange County. Mike Moser and Chris Hodgman of Retail Insite represented the seller in the transaction.







Return to the Archive page


 


 


 


 
 



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2024 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media