When a major transaction is being made, there are many decisions to make in the process. In addition to understanding the paperwork and negotiating a good deal, businesses and individuals in Arizona should ensure the purchase would provide them with capital gain. In order to properly benefit from it, a commercial real estate transaction should be adequately planned and financed for. Furthermore, the commercial property should be in a location that could support the usage of the building. When this is accomplished, a successful operation could take place.
It was recently announced that an Arizona theater was purchased by a Kansas-based company. A family owned the nine-plex cinema in Nogales, and this sale ends their three-generation ownership of the cinema. The new owners will make various improvements and changes. It was reported that they intend to lower the prices of tickets and concessions. New concessions combos will be added and the outdoor ticket booth will reopen. They seek to reduce wait times to purchase tickets, and plan to offer on-line ticket purchasing as well that will utilize an app on a patron’s phone.
This recent purchase is the fourth property the Kansas-based company has purchased in the southwest area of the country. With the recent and planned acquisitions, the company will own and operate 13 movie complexes, which amounts to 100 screens. It is expected that the company will purchase more commercial real estate in the near future as it continually seeks to expand.
Making a major real estate transaction can include many steps. Whether it is the first or thirteenth property a company will acquiesce, it is important that the details of the transaction are fully understood. This will ensure the deal is valid and will be upheld. Furthermore, accurate understanding and knowledge about the property will ensure the business plans will benefit the purchasing company as well as the sellers.
Source: Hutch News, “Elkhart company buys Arizona theater,” John Green, June 29, 2014