It seems Regal Cinemas Hollywood 24 will be the next cinema complex to cease operations in metro Atlanta. Located at 3265 NE Expressway and visible off I-85, the 24-theater complex opened May 19, 1999, with the debut of Star Wars: Episode 1 - The Phantom Menace.
According to several real estate sources, Regal Cinemas Hollywood 24 is expected to close in October, surprisingly ahead of the lucrative holiday season with the highly anticipated releases of Gladiator II and Wicked, both due out November 22, Moana 2 on November 27, and Mufasa: The Lion King and Sonic The Hedgehog 3, both due out December 20.
When Hollywood 24 opened, it replaced the North 85 Drive In which had closed June 20, 1998. (We saw Morgan Freeman in Deep Impact at the drive-in in May 1998 ahead of its closure.)
According to materials reviewed by ToNeTo Atlanta, the Hollywood 24 complex includes 37.06 acres, a 100,488 square foot two story building with 5,135 seats and 1,310 parking spaces.
"The property is flat with roughly 22.5 acres outside the floodplain. Proximity to Interstate 85 and Interstate 285 make the site desirable for multifamily, commercial, and potentially industrial development. The 100,488 SF two-story masonry building could be converted to self-storage or other uses" according to the offering memorandum (OM).
The listing also says the property's future land use is “Regional Center” with an "Edge 1" designation. "Parcels in this area border existing single-family parcels, and as such should be used for smaller multifamily residential developments. Some lower-intensity commercial or mixed-use may be permitted if the uses do not disturb adjacent homes."
The property is currently located in unincorporated DeKalb County but the City of Chamblee is reportedly seeking to annex it and several other commercial properties.
The OM mentions proximity to Children's, Emory, and Assembly Studios, but surprisingly does not mention that the rear of the property runs along what is expected to be Phase 4 of the Peachtree Creek Greenway.
DeKalb County property records indicate that Realty Income Corporation (NYSE: O), a publicly traded REIT (Real Estate Investment Trust), purchased the Hollywood 24 property in 2001 for roughly $4.33 million. Real estate sources suggest the property is now under contract for about $30M.
The sale includes the vacant outparcel along the expressway but does not include the adjacent former Atlanta Fixture (3185 Northeast Expressway) and its roughly 3.3 acres.
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| Vacant outparcel of Regal Cinemas Hollywood 24 |
On December 5, 2017, British theater chain Cineworld acquired Knoxville-based Regal for $3.6 billion, making it the second largest global cinema exhibitor behind AMC. Regal, AMC, and other theater operators struggled coming out of the pandemic, and on September 7, 2022, Cineworld filed for Chapter 11 bankruptcy.
Cineworld emerged from bankruptcy on August 1, 2023. The "New Cineworld" fixed its balance sheet after cutting debt by $4.53 billion, raising about $800 million in new equity capital and securing new debt financing of about $1.71 billion, the company said.
When it closes, Hollywood 24 will be at least the fourth Regal theater in metro Atlanta to close in recent years, following the closures of Regal Town Center Stadium 16 (10/2020), Tara Theatre (11/2022), and Regal Stadium 22 at Austell (06/2023).
Given the permanent cultural changes that occurred post-pandemic, 24 screen and larger theaters (30 screen theaters exist in California) are basically obsolete. ToNeTo Atlanta founder Eli Zandman worked at the Hollywood 24 between 2004 and 2006, and at that time, before several in-town theaters opened, it was one of the busiest and most productive in the state. [Be sure to check out our Instagram page (@tonetoatl) for a special throwback to Zandman's Regal days.]
Regal Mall of Georgia 20 & IMAX which opened August 1999, Regal Atlantic Station 16 & IMAX which opened October 2005 and Regal Avalon 12 which debuted in October 2014, are among the notable theaters the cinema exhibitor still operates in metro Atlanta.
Are you surprised to see Regal close their Hollywood 24 theater? What is your favorite movie theater in metro Atlanta? What would you like to see in place of Regal Cinemas Hollywood 24?
Please share your thoughts below.
37 comments:
I grew up nearby and remember seeing Free Willy at the drive in. I also recall that when Regal was built and the woods all around the drive in were torn down, the neighborhood was told that outparcel development was pending and would turn the acreage into an “entertainment destination”. Maybe this time that will actually happen.
My money is on mixed use with lots of residential.
The last movie we saw there barely had 12 people in it. The place is old and hasn't been renovated since it was built. Why such a large cinema was built years ago is still a mystery. 24 screens was just way too many. Granted years ago the movies were better. As well the theater were places that a young guy could ask a girl out on a date and not break the bank to have a good time.
This was a good theater for making out. Either they didn’t mind or didn’t check but you could really get pretty far in here during a movie without being caught. That was fun back in the day.
Tara reopened
The Tara has reopened.
We construct more self-storage facilities in the US than we do housing units and we wonder why housing is so expensive.
Eli was the best ticket taker. He ripped those tickets in half like nobody else could.
Different owner- not a chain
Does anyone remember the old theater at Lenox? It seems like it sort of weaved around the basement and had some odd shaped spaces. Anyway, just thought about it.
I am so sad to learn about this, but I am not surprised. It has been really slowed down...
I'm not really surprised to hear this is closing. It's a shame though. I have fond memories of going to the Drive In on that property and I used to love that movie theater. It was so state of the art when it opened (now most places are built like it). It used to be so packed every day but since the pandemic (maybe even a little before), there's seldom anyone there. I went on a Friday and there were like 5 people in the whole place. It's a shame to see it closing, especially since it will most likely be replaced by more over-priced condos and apartments that are popping up everywhere. My favorite movie theater is the Movie Tavern in Tucker. Not too big but big enough, good service and prices.
Good riddance
I'm sad but not surprised it's closing. I live close by and went to this theater often up until 2020. Lots of good memories. Recently I didn't feel comfortable going here....just not many customers and it wasn't in good condition. Now I mainly go to Sandy Springs Cinema & Taphouse for movies. Still like watching movies in a theater.
Actually the basement is underneath all of that and the food court. Food court places have storage down there and their extra refrigerators. They also go down there and pee and when it rains really hard it floods down there and you can see rats swimming. Fun!
He did a lot of things there like nobody else could…
I saw Star Wars for the first time at the Drive In there in 1977. I'll be sad to see the theatre--in whatever form it's been--go.
Nooooo! God that's the only theater around here where you can buy a movie ticket for less than 24 US Dollars. I go there all the time! Ugh
Keep Chamblees claws off it. They are just greedy and want to get more tax money to fund their ridiculous expenses
not surprised. I went to a lot of movies here but it needed renovation. these days, I only go to theaters with recliners and reserved seating.
They might build a Barnes and Noble there then tear it down in 25 years and put up apartments! Stop them now!
When theater leases end - here at the terminus of a 25-year lease - no theater chain would think about a long-term lease renewal in this environment. Track the end of lease of any non-owned property and you can predict the theater's closing date. Though sad, certainly an event that will happen continually over the next five to ten years.
Used to see movies there in the 70s. Unfortunately they were mostly awful Disney live-action turkeys, but the drive-in experience was awesome. Now work near the current Regal and I see the parking lot sitting nearly empty almost every night. Not a surprise it will be sold off.
The AMC at what was formerly North Dekalb Mall, soon to be Lulah Hills, is very cheap--for now. It's being renovated as part of the redevelopment (which, honestly, it sorely needs) and will lose a few screens and probably raise prices, but for now it's still obscenely cheap, especially for matinees.
Can't wait for more Pickleball courts and generic office space.
That property is 22.5 acres (your quote from the listing even confirms), not 37. They don't own any other adjacent properties.
Please read the OM that we linked in this post. 22.5 acres are "outside the floodplain" but the TOTAL parcel IS 37.06 acres. We put a lot of time into these posts and try and be as accurate as possible but reading is fundamental.
Thanks for the readership and commentary.
Facts
Yeah, can’t you read it!
Like others, I'm really disappointed but not surprised. I've continued to see movies there (saw one a couple of weeks ago) but agree that VERY few cars were in lot for mid-week pm shows.
My primary theater is LOOK at Brookhaven. Good seats and really good food.
I'm about 5 min from there and haven't been in years because it costs so much. I usually go to AMC North Dekalb, sometimes Movie Tavern or Studio Grill when I splurge. I remember when it was a drive-in which brings me to the other reason. I drove all the way across town to Starlight drive in because that's the best value when you have a van full of kids.
I just know they are going to put apartments and/or townhouses there which would actually be welcome. I love living here at spaghetti junction but have been priced out of buying another home due to low inventory. It's also a prime location for a shipping hub. UPS and Amazon are already near. But I can certainly see another logistics company in there.
You are always the first to break major and accurate news items. I don't know how you do it, but keep it up. You must have a clone. Thanks.
I do remember the Lenox theater! It was a regular hang out spot for me in the 80s! So sad it’s just storage now…
Northlake Mall is still there with new added stores & looks like the Emory Hospital clinics/office have repurposed the old Sears,& possibly a private school for children as well!
Perimeter Mall isn’t that far away and it is going strong!
The upstairs part of the Lenox Theater is a spa now.
Oooooh, you just got owned by Eli!
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