Sun-Ray Cinema to close, Five Points Theater building sold. What does this mean?
Sun-Ray Cinema, which has operated a two-screen movie theater at the 1028 Park St. building in Five Points since 2011, will close shop and vacate its building by the end of July. A news release from Union South Partners on Tuesday announced Sun-Ray’s lease will not be renewed. However, the new ownership, based in Decatur, Georgia, emphasized that it “intends to invest significant capital into the theater space to enhance and improve it as a destination for entertainment while preserving the theater’s historic fabric.” The news comes after an online petition circulated in mid-April to keep Sun-Ray Cinema at its current building. Sun-Ray Cinema owner Tim Massett did not immediately respond to interview requests.
Why is Sun-Ray Cinema closing?
Sun-Ray is closing because the building it is in has sold and the new owners opted not to renew the theater’s lease.
When is Sun-Ray’s last day?
Sun-Ray is expected to leave Five Points by the end of July.
How much did the Sun-Ray Cinema building sell for?
The sale of the Five Points Theatre building at 1028 Park St. went through on May 16 for $7 million, as first reported by the Jacksonville Daily Record.
What renovations will be made to Sun-Ray Cinema?
Plans include a "modernization" of the office lobby, common areas and restrooms.
Who bought Sun-Ray Cinema?
Decatur, Georgia-based Union South Partners finalized the purchase of the Five Points Theater building on May 16. The company, established in 2013, invests in industrial, office, retail and mixed-use properties throughout the Southeast.
What will happen to the Five Points Theater Building?
The purchase includes plans for a projected $2 million in renovations to the four-story, approximately 35,000-square-foot building.
What will go into the Sun-Ray Cinema space?
The Tuesday news release from Union South Partners said the company is “in active discussions” with multiple entertainment operators for a new lease for the space.
Is Sun-Ray Cinema becoming a parking garage?
No, the theater building will not be turned into a parking garage. It is protected from a project of this type by its historic landmark status.
How are community members responding to the closure?
Many posts online have expressed displeasure with the decision not to renew Sun-Ray’s lease.
Will other Five Points Theater Building businesses close?
Union South Partners renewed all other current leases for the theater building, including the popular coffee shop, Brew, which will celebrate 10 years on Park Street in July.
What Five Points spaces are vacant?
Vacant space at the theater building includes two retail storefronts facing Park Street, and suites range from 300 square feet to as much as 5,000 square feet.
Who will rent the Five Points spaces?
Retail and office spaces available at the theater building will be leased through the Urban Division at Colliers, Urban Division, a three-person team under Colliers International.
Who is the Urban Division at Colliers?
This is the same company behind high-profile leases including Don Eduardo Cocina Mexicana on Park Street and the Winn Dixie at the College Park retail center in Arlington, formerly food desert, as well as those still available at the former Southern Roots Filling Station, One Riverside and Phoenix Arts District. The Urban Division also has worked with smaller businesses in the area, including Five Points spots like Alewife, Hoptinger and Bark on Park.
This article originally appeared on Florida Times-Union: Sun-Ray Cinema to close after lease is not renewed by new building owners
