Local developers John King and Rob Rossi are negotiating leases for three San Luis Obispo movie theaters that they own, King confirmed Thursday.
Sanborn Theatres Inc. has been managing the theaters owned by King Ventures and Rossi Enterprises. The theaters are the Downtown Centre Cinemas on Marsh Street, and the historic Fremont and Mission Cinemas, both on Monterey Street. The latter has been “temporarily closed,” according to a sign posted at the theater’s entrance.
“All the leases are up at this stage,” King said.
Also known as The Movie Experience, the Newport Beach-based Sanborn Theatres is purportedly the oldest existing movie theater company in Southern California.
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King would not comment on whether the developers have reached out to other companies interested in managing the theaters.
In April, King and Rossi announced plans to build the Fremont Square Entertainment Complex, which would combine the Fremont and Mission Cinemas with a new 300-seat IMAX theater.
The proposed complex, which would replace a small parking lot facing Higuera Street, would feature a sawtooth roof, photovoltaic solar panels and a 1942 neon marquee.
Currently, the closest IMAX-style theater is at the Hearst Castle Visitor Center in San Simeon.