Historic Nevada Theater Faces Foreclosure

Posted by Orb Staff on March 13, 2013 No Comments
Categories : Commercial Mortgage

13456_safetylast Historic Nevada Theater Faces Foreclosure Fallon Theatres, the only cinema located in Nevada's Churchill County, is facing foreclosure next month.

The Associated Press reports that the property is scheduled to be auctioned at the Churchill County Courthouse on April 11 unless its owners are able to reach a refinancing deal with their lenders. Co-owner Bob Erickson says that the cinema is carrying a balloon debt payment and that he is unable to afford to upgrade the venue to accommodate digital projection equipment that is becoming a new standard in contemporary theaters.

Fallon Theatres opened in 1920 and initially offered vaudeville shows and silent movies. The 10,000-square-foot property, which currently operates as a duplex, is located in Fallon, a rural town approximately 60 miles east of Reno.

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