We Have The Lease Dating Back To 1980s. Read It.
BOCA RATON, FL (BocaNewsNow.com) — BocaNewsNow.com reported exclusively on Sunday that the Shadowood theater at Glades Road and U.S. 441 is likely to close forever. The theater is now being sued for lease back payments of $79,129.19.
The lawsuit includes the original lease with “Cobb Theaters” dating back to the 1980s. The lease structure is a fascinating look at Shadowood’s history. The lease data runs back to 1996 when the annual lease was $570,099. it grew each year to an annual rate of $797,657.50 for the period running February 1st, 2019 through January 31, 2024.
As we reported Sunday, Regal Cinemas is expecting to close all theaters in the United States after placing high hopes on a James Bond movie expected to be released in the Fall. It’s been delayed until at least the Spring. Following months of forced closures due to COVID-19, and now audiences with no interest in sitting in a closed indoor space, there seems to be no alternative.
The lawsuit is filed by Shadowood Square, LTD, and lists R.C. Cobb, Inc, as the defendant. We encourage you to read the two page cover sheet, then flip to pages 2, 3, and 12 of the lease — it’s a flashback to the history of the Shadowood 16.
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