Georgetown Theater Building Sold
By April 12, 2018 0 2366•
Owner and architect Robert Bell, who bought the formerly rundown property at 1351 Wisconsin Ave. NW in 2013, sold the iconic Georgetown Theater building in early March to Martin-Diamond Properties LLC, headquartered in Delaware and with a office on Connecticut Avenue. The firm is led by Christopher Martin.
When asked by The Georgetowner how much the sale price was, Bell replied. “Enough … it’s fine.”
In September 2017, Bell was close to a long-term deal with Footlocker’s parent company for the building’s big first and lower floors, but the retailer abruptly walked away.
The building, which had been a theater for decades, fell on hard times and was renovated and reopened in 2016 by Bell. The first and lower levels each measures 120 feet deep by 30 feet wide. Upstairs are offices and apartments, already leased, as well as a studio in the back. Also, nearby buildings on the avenue are now undergoing renovations.
The building is best known for its iconic theater sign with “GEORGETOWN” in capital letters, switched back on and aglow in neon-red as part of the renovation.
What’s next for Bell? “I’m working on some new things … onward and upward.”
At press time, Martin-Diamond Properties had not responded to an inquiry by The Georgetowner.