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The Regal Governor’s Square movie theater is now for sale.
The 43,242-square-foot building on Governors Square Boulevard, across from Governor’s Marketplace and next to Capital Health Plan, is listed for $4.6 million.
It remains unclear whether the theater is closing or just seeking new ownership. Calls and emails were not returned when a Tallahassee Democrat reporter asked about the future of the cinema complex.
One of the real estate professionals, Matt Fleck of Southland Commercial, listing the property said he’s “not at liberty to comment” on whether the movie theater will be closing or just switching ownership, but the property is being sold “as is.”
The theater sits in a “prime retail location” due to its dense population and proximity to the Florida Capitol, Florida A&M University and Florida State University, according to the real estate listing.
Amid the pandemic, Regal was forced to shut its doors to movie buffs across the country, affecting approximately 45,000 employees. But a year later, select theaters got the green light to re-open, including Tallahassee’s, according to a previous report.
But even with re-openings, the movie theater industry took a hit after the year-long hiatus.
According to a report in the New York Timesthe 2023 domestic box office, which includes the U.S. and Canada, took in nearly $9 billion in comparison to the $11 billion the industry typically generated before the pandemic.
Dwindling revenue caused several theater chains like Pacific Theaters and ArcLight Cinemas to go under, and while they’re still up and running, the top three U.S. chains, Regal, AMC and Cinemark collectively shut down about 1,000 screens nationwide.
Breaking & trending news reporter Elena Barrera can be reached at ebarrera@tallahassee.com. Follow her on X: @elenabarreraaa.
