Bow Tie Cinemas has put its Movieland at Boulevard Square property up for sale; owner plans to continue to run theater complex | Business News

The Movieland complex reopened on July 1. Attendance has been growing since, Masher said.

The family-owned Bow Tie has retained commercial real estate brokerage CBRE as an adviser in the sale or redevelopment of the property. Andrew Ferguson and Eric Williford are listed as the brokers.

“The property and neighborhood are benefited by the central location fronting Arthur Ashe Boulevard and encompassing Bow Tie Cinemas’ Movieland, with immediate access to major interstates, apartments, breweries, restaurants, entertainment venues, grocery stores and high-profile corporate office users,” according to CBRE’s promotional flyer on the property.

The flyer promoting the sale of the property does not list an asking price.

The 16.93-acre property is divided into two parcels.

The 11.05 acres is used for the Movieland and Criterion Cinemas buildings and the parking lots. That parcel is assessed at $18.098 million, according to the city’s online real estate data.

It is owned by BTP Boulevard Square LLC, the entity tied to Bow Tie Partners.

The second parcel is mostly wooded and located to the east of the parking lots. It is assessed for $2.816 million, the city’s online property records show.

BTP Boulevard Square bought the 5.88 acres on the north side of West Leigh Street, just east of the railroad tracks, in September 2011.

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