Former Revolutions at Saucon Valley sold. New entertainment hub planned at web-site.3 min read
The former Revolutions Multi Venue Entertainment Heart at the Saucon Sq. browsing center is established to before long develop into a new area for pleasurable.
The 38,565 sq.-foot building together Route 378 in Lower Saucon Township has remained vacant considering that it abruptly closed its doorways on March 31, 2019. It’s unclear what led to the closure with the business’ then general manager not returning phone calls and emails trying to find info. Numerous indicators at the time had been posted on the front doors, stating, “Revolutions has shut for enterprise. Thank you for all your patronage. We will skip you all.”
Colliers International’s Allentown office Tuesday declared the making has been marketed 3717 FEC LLC. Scott Horner and Seth Lacey of Colliers brokered the offer. The price tag of the sale was not disclosed, however, a listing on loopnet.com has the 2-acre house at a $5 million asking price.
The new purchaser does have designs to hold the making a space for entertainment, a information launch mentioned, but specifics remain unclear. More data about the tenant will be made available in coming months, the release explained.
Lacey said the leisure sector struggled immensely financially all through the pandemic but is setting up to make a potent comeback. The new owners have a vision to give the web-site a new name, he explained.
“When Revolutions went darkish, its influence was felt in this neighborhood and so we are proud to have performed a part in reigniting this internet site as an remarkable new put to appear alongside one another, and have enjoyable,” Lacey stated. “The new proprietors … know the site has excellent bones and potential, but just needed the right operator that is aware of the industry. There is a lot occurring behind the scenes in this component of the Lehigh Valley. It’s heading to be special.”
It also remains unclear if the new operator ideas to keep any of the current features or renovate the developing into a new thought.
Revolutions, formerly owned by Florida-based mostly Frank Amusement Team, incorporated 20 bowling lanes an American fusion restaurant two bars and an arcade with additional than 40 games. On top of that, there was a totally-outfitted sports activities amphitheater seating much more than 100 folks and a lot more than 25 High definition flat screens for the “best sports viewing in town,” its web page experienced said. Revolutions opened in January 2013, replacing a shuttered Regal Cinemas.
In December 2018, Frank Theatres filed for Chapter 11 individual bankruptcy. The debtors in the Chapter 11 submitting detailed Revolutions of Saucon Valley LLC, as very well as Revolutions at Town Place LLC, in West Palm Beach front, Florida. The Rock Hill, South Carolina spot and Philadelphia Fishtown destinations also were being shuttered.
A report in ThePilot.com stated Frank Theatres shed virtually $10 million in 2018, citing files submitted to the U.S. Individual bankruptcy Court docket District of New Jersey on Dec. 19, 2018. Christopher Lang, chief restructuring officer for Frank Theatres, in the filing blamed the chain’s losses on an unprofitable enlargement into bowling. Frank Theatres furthermore shed about $21 million from 2016 to 2017, Lang reported in the submitting.
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Pamela Sroka-Holzmann may be achieved at [email protected].