For Sale: Downtown Loveland’s Metrolux DIne-In
2020 strikes another blow, as the COVID-19 pandemic has seriously reduced customer flow at movie theaters nationwide.
For just over $6 million ($6.34 million), the Metrolux Dine-In, (along with its restaurant, Scripted Bar & Kitchen) in The Foundry, could be yours. The Reporter-Herald has the story on how it's current owners, Brinkman Real Estate has listed the property for sale.
The Metrolux Dine-In will continue operating the theater and restaurant unless Metropolitan Theaters defaults on its lease of the property, which it currently has for another nine years with options to renew.
Worst case scenario is that somebody (or company) comes in and buys the property and buys out Metrolux's lease so that they can put in something different on that spot.
The movie-going industry is bound to turn around, if not in 2021, by 2022, for sure (I hope.) With luck, Metrolux can hold on until then.
Get more on the Metrolux being for sale from The Reporter-Herald HERE.