Five Points Theatre for sale, will remain at the center of the retail center

Rumors about the planned demolition to build a parking garage are untrue, said building owner representative Jack Shad.

  • By Max Marbut
  • | 6:45 p.m. April 16, 2024
  • | 4 Free Articles Remaining!
The Five Points Theatre building at 1028 Park St.
The Five Points Theatre building at 1028 Park St.
  • Real Estate
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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.

As for the rumored demolition of the 1920s-era movie theater, Shad said that in 2004 City Council declared the building a local historic landmark, meaning that it cannot be torn down to make way for a parking garage.

“We’re very proud to have played a small role in the ongoing history of 5 Points, and we’re excited to see what the future brings,” he said.

Property records show the 16,037-square-foot building at 1028 Park St. is owned by 5 Points Theatre Building LLC. It was acquired in 2004 for $2 million.

Tenants include Sun-Ray Cinema and Brew Five Points.



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