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Performances continue at Midwest City's coronavirus-doomed Warren Theater thanks to its purchase by a chain with locations in Moore, Norman and Bartlesville.
Regal Entertainment Group is buying the theater, renamed Regal Warren Midwest City, from Arvest Bank. It reopened this week. Arvest foreclosed on the Warren Theater last fall and then acquired it in March as the sole bidder at a sheriff's auction.
Warren, at 5905 SE 15, the anchor of Midwest City's Sooner Rose mall, closed in March 2020 at the start of the pandemic after a run of just seven months. Unlike many, it never reopened.
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Details of the pending purchase, including price, have not been disclosed. Arvest was eliminated by MWC Warren Theater Inc. for $16.3 million plus attorneys' fees, costs and interest.
Reopening the theater will ease the thirst that caused Warren to expand in the Midwest City, said Jim Parrack, senior vice president and retail real estate specialist with Price Edwards & Co. He previously called the area “the theater desert”.
“Regal Entertainment Group's purchase of the former Midwest City Warren is not surprising given that Regal already owns the Moore Warren and operates other theaters in the market,” said Parrack. “The transaction is good for both Midwest City moviegoers, more movies in an upscale location, and Regal, expanding their presence at a reduced value.”
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Real Estate Editor Richard Mize edits The Oklahoman's Real Estate section and covers housing, construction, commercial real estate and related topics for the newspaper and Oklahoman.com. Contact him at rmize@oklahoman.com. Support his work and other Oklahoman journalists by purchasing a subscription to http://subscribe.oklahoman.com.
