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Westborough seeks buyer for $6M vacant cinema

7/3/2018
Photo/Google
Photo/Google
The Regal Westborough Stadium 12 theater complex has closed.

Westborough is seeking potential buyers for a 29-acre parcel housing a former Regal Cinema closed last fall.
Per town records, the property is owned by an entity legally dissolved in 2009. With no current active ownership, the town wants to sell the property to a developer.
Town Meeting in March approved $6 million for an eminent domain land taking and disposal of the property, but a land sale has yet to be reflected in Worcester County land records.
The property was sold to Westborough SPE LLC in 1997 for $9.1 million, but that San Francisco-based entity withdrew its Massachusetts business license in 2007. The property was last assessed this year for about $9.3 million.
Bids are due to the town by Aug. 7, along with a bank check or bid bond for $10,000.
The 12-theatre, 49,000-square-foot cinema was built in 1997. It closed in November at the conclusion of a 20-year lease between Interstate Theatres Corp. -- an entity controlled by Tennessee-based Regal Entertainment Group -- and Westborough SPE LLC.