CHARLOTTE, N.C. — It's been a tough ride the past few years for movie theaters, but their unorthodox real estate could be their saving grace.
Landlords are cutting deals for theaters everywhere because of their unique space. Cinemas were on their way out a couple of years ago, but there was a major problem: no one could figure out what to do with windowless rooms that have stadium seating.
That made it a challenge for landlords to find new tenants or buyers, according to the Wall Street Journal, which reported that high construction costs and odd characteristics forced landlords to cut the rent just to keep spaces filled. So despite the pandemic and Hollywood strikes cutting into profits, theaters kept hanging on.
It's one of the few retail spaces where landlords don't have control of the market and now movie theaters are on an upward trajectory, with major movie companies hoping they'll be more profitable by 2025.
WCNC Charlotte To Go is a daily news and weather podcast you can listen to so you can start your day with the team at WCNC Charlotte.
SUBSCRIBE: Apple Podcasts || Spotify || Pandora || TuneIn || Google Podcasts || iHeart
All of WCNC Charlotte's podcasts are free and available for both streaming and download. You can listen now on Android, iPhone, Amazon, and other internet-connected devices. Join us from North Carolina, South Carolina, or on the go anywhere.