The Coventry 13 movie theater in the Village of Coventry shopping center will be auctioned online this month. The price to play in this auction: an opening bid of $600,000.
The theater and the four-acre plot on which it stands have been owned for about eight years by the Tabani Group, a Dallas-based real-estate company. Zeshan Tabani, the company's director of leasing, said it thought the activity in the shopping center – a new Kroger store, notably – encouraged the owners to test the waters with a sale.
“We just thought it would be a good time to see whether anyone wants to buy it and maybe upgrade it,” he said.
The theater, which is more than 41,000 square feet, is now operated by Starplex Theaters as a discount theater. Films open on its screens several weeks after they premiere. Ticket prices are $3 except for Tuesdays, when tickets sell for $2, according to the theater marquee.
According to the listing for the theater on auction.com it was built in 1996. An additional four acres, now used as overflow parking for Coventry 13, is available for $400,000, according to the listing.