Amid rumors spread April 16 on social media about the possible sale and planned demolition of the Five Points Theatre in Riverside, building owner Jack Shad released a statement:
“Our family bought the 5 Points Theatre Building in 2004 and did a complete historic rehabilitation to return this beautiful building to its original appearance. After almost 20 years, it is time for us to sell the building to a new owner who can maintain that legacy. After a long search, we have found a buyer with experience managing other historic properties throughout the southeast,” Shad said in an email.
He declined to identify the buyer but said it will be honoring all of the existing leases, as required by law.