Seaside golf course, theater listed for sale
Published 5:00 pm Tuesday, August 14, 2012
SEASIDE In the future, Seaside may no longer be the place to go for nine holes of golf or to enjoy a first-run movie.
Both the Seaside Cinema and the Seaside Golf Course are for sale. The price tag on the golf course is $2 million.
Priced at $1,850,000, the Seaside Cinema, owned by Ashland-based Coming Attractions Theatres, is the victim of a slow economy and new technology.
The owner originally planned to build an eight-plex there, but that was in 2005 when the economy was pretty good, said Dann Pickell, broker for RE/MAX, who has the listing. The theater currently has six screens.
Movies soon will be coming out in digital format, and the owner doesnt want to go to the expense of upgrading the equipment, which is designed for 35-mm films, Pickell said.
Moviegoers will have to travel to the Astoria Gateway Cinema, also owned by Coming Attractions. Thats not such a bad option, Pickell added.
Market research shows that people like the stadium seating there and the upgraded theater, he said.
Listed for 1 1/2 months, the property has received some interest, especially from the Seaside Factory Outlet Center immediately to the south, Pickell said. However, the mall may no longer be interested, he added.
The 1.82 acres is in a prime commercial location on the corner of U.S. Highway 101 and 12th Avenue. It is zoned for commercial use.
However, a potential buyer hoping to turn the building into an updated commercial theater will run into a clause in the sales contract that prohibits a first-run theater on the site.
But the building, which Pickell rated in fair to good condition, could be used as a brew pub that offers 35-mm movies to customers while theyre sipping beer or eating a meal.
Built in 1976, the building once housed a garage for trucks operated by a telephone company, Pickell said. In the early 1990s, Seaside businessman Warren Kan bought the property, as well as additional property to the north, up to 14th Avenue. He remodeled the building into the theater and added onto it over the years, Pickell said.
Kan, who died last year, sold the theater to Coming Attractions in 2005.
The nine-hole Seaside Golf Course also is listed with RE/MAX for $2 million. In addition to the course, the 102-acre property includes the pro shop, restaurant and a four-bedroom house.
Owner Wayne Fulmer, who has had the course since 1969, said family pressure forced him to sell following the death of his father, Fred R. Fulmer, Jr., two years ago.
Along with a golf course thats big enough to add nine more holes, the property also comes with some important history.
The history goes back to before Lewis and Clark, said Fulmer, who noted that the area behind the eighth tee was an ancient Indian burial ground. Unfortunately, some of the bones were stolen by a man who misrepresented himself as a representative of the Smithsonian Museum, Fulmer said.
The property also was the site of a luxury hotel built in 1870 by Portland land developer and railroad builder Ben Holladay. Called the Seaside House, the building resembled an Italian Villa, and the resort included a race track and a horse stable, as well as groves of trees, extensive lawns and a wooden bridge that went over the stream, now known as the Neawanna River.
Seasides name came from Holladays Seaside House after mail sent to the resort often was addressed just to Sea Side, according to information from the Seaside Historical Museum.