Golden State Theatre for sale
MONTEREY, CA — A Northern Californian gem, the Golden State Theatre, is up for sale again.
Warren Dewey, who has worked to restore the aging Golden State Theatre in downtown Monterey since buying it in 2004, announced Monday that he was putting the theater up for sale.
Broker Ryan Flegal, who represented Dewey in the property’s purchase, said the asking price will be about $8 million. Dewey paid $2.5 million for the Regal Theater in Monterey and the Golden State, then immediately sold the Regal.
The $8 million figure represents not only the theater, but the business Dewey has established after turning the run-down movie theater into a live music venue capable of attracting nationally recognized artists. B.B. King , Willie Nelson, k.d. lang, Lyle Lovett and Garrison Keillor, all of whom have performed at sold-out Golden State shows in the past two years.
Read more in the Monterey Herald.