Center Investments, Inc. (CII) was engaged by Sun Basin Theaters for comprehensive real estate services in Wenatchee involving 3 large commercial properties. CII assisted in the purchase of the 106,000 square foot former K-Mart building in Olds Station for Sun Basin’s conversion of the building into its’ Gateway Cinema project - a multi-screen, state of the art, stadium seated theater. Instrumental in funding their cinema project CII was retained to sell their existing properties, the Vue Dale Drive In and the Columbia Cinema. CII recruited Walgreens to the Columbia Cinema site which was ultimately sold to a Walgreens developer.
Complex timing needs for all parties was resolved with a year long sale-leaseback of the property allowing the Walgreens developer to obtain permits and fit their project into Walgreens store opening pipeline and allowed Sun Basin to operate the Columbia Cinema until construction of their Gateway Cinema project was completed. The final task CII will undertake for the project is to lease the remaining portion of the former K-Mart building some 45,220 square feet currently being marketed to national major retail tenants..