Regal’s New Lease at Sherman Oaks Galleria Shows Retail Growth

Sherman Oaks Galleria recently secured an 87,046-square-foot lease with Regal to occupy the former ArcLight Cinemas space which closed in April 2021. The new Regal theatre is scheduled to open soon, with a full remodel planned shortly after opening.

Regal Sherman Oaks Galleria will eventually feature three premium format auditoriums including IMAX, 4DX and ScreenX. The location will also include a VIP section with upgraded auditoriums featuring recliners, reserved seating, an enhanced menu and lounge.

“We plan to open the theatre as soon as possible and start refurbishing the location to be in line with our strategy of bringing our customers The Best Place to Watch a Movie,” says Mooky Greidinger, CEO of Cineworld, parent company of Regal.

The lease with Regal reflects the continued strength of the Sherman Oaks Galleria in the past few years. In 2020 alone, Starbucks, 24 Hour Fitness and Paul Mitchell School all signed long-term lease renewals for more than 58,000 square feet.

JLL’s Shauna Mattis, Scott Burns, Greg Briest and Alex Otto represented the landlord, Douglas Emmett. “Since the beginning of the year, we have seen increased retail leasing activity from new concepts, growing existing brands and tenants well positioned for long-term growth,” said Mattis.