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January 7, 2020 Comments Off on San Clemente’s Landmark Miramar Theater Sold to Fortuitous Buyer for $8M Views: 1458 California News, Orange County

San Clemente’s Landmark Miramar Theater Sold to Fortuitous Buyer for $8M

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The Miramar Theater on El Camino Real in San Clemente, CA has sold for $8 million to Arizona-based Fortuitous Partners LLC. The firm is expected to implement a redevelopment plan that will reactivate the historic landmark, according to reports from the Orange County Business Journal.

The landmark theater dates back to 1938, and has been shuttered for more than two decades. At one time, San Clemente used a $20,000 grant from the California Office of Historic Preservation to hire a design firm that specialized in saving old movie houses to find a viable use. Fortuitous has a history of building food halls and restaurant projects, according to the OCBJ report.

Fortuitous acquired the project with some approvals already in place, including a 2017 Coastal Commission approval for redevelopment at the site. The company has said it wants to maintain those approvals while moving forward with finalizing project specs.

Photo Credit: Cinema Treasures

Read more at Orange County Business Journal

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