CB RICHARD ELLIS MANAGES $2.76 MILLION MOVIE THEATER TRANSACTION

TUCSON, ARIZ. — CB Richard Ellis (CBRE) has negotiated the $2.76 million sale of Century Theaters’ Century Park 16, a 74,000-square-foot movie theater located at 1055 W. Grant Road in Tucson. With more than 800 feet of Interstate 10 freeway frontage and expandable to 140,000 square feet, the property is set up for infill redevelopment after the theater closes operations on January 8, 2011. CBRE’s Robert DeLaney and Tim Healy represented the Plano, Texas-based seller, Century Theaters, in the off-market transaction, and the brokerage firm’s Buzz Isaacson and Ike Isaacson represented the local buyer, Michael R. Wattis Inc.