FSU Finalizes Purchase of Regal Governor's Square Cinema Property
As reported by WCTV and the Tallahassee Democrat (among other outlets), FSU has purchased the former Regal Cinemas location by Governor's Square Mall, with plans to use the location at the College of Motion Picture Arts and to move Torchlight Studios from Midway to Tallahassee:
The property is expected to serve as the Florida State’s College of Motion Picture Arts, the university wrote in its statement. The new facility is set to house Florida State’s Center for Cinematic Innovation, known as Torchlight Studios, according to the university, relocating it from Midway to the capital city.
The property went up for sale at $4.6 million, but according to the Democrat, it looks like FSU only paid about $4 million for it:
The 43,242 square-foot theater went on the market during the summer for a $4.6 million listing price. FSU on Wednesday closed the deal, which was first reported in December by the Tallahassee Democrat. Property records indicate the final purchase price at approximately $4 million.