Rick Caruso Leases Bay Theater In Pacific Palisades To David Ellison Of Paramount Pictures

The property asset involved in this transaction is the Bay Theater located at 1035 North Swarthmore Avenue, Pacific Palisades, CA. The asset is categorized as a commercial property, with plans for upgrades to its projection systems and in-seat dining service. The property is set to reopen following its closure due to the January 2025 wildfires.

Summary of transaction details:

• Property Type: Commercial
• Transaction Amount: Not specified
• Landlord: Rick Caruso - Caruso
• Tenant: David Ellison - Paramount Pictures
• Market: Pacific Palisades, CA

The deal features representatives who play significant roles: Rick Caruso represents the landlord's interests, while David Ellison stands for Paramount Pictures as the tenant. Skydance-owned Paramount Pictures plans to operate the theater under the luxury cinema chain the Lot, which will be screening first-run films from all studios.