Photo illustration: Galaxy Theatres branding is shown on the former Maya Cinemas location. The theater is transitioning from Maya Cinemas to Galaxy Theatres. Original photo courtesy of Visit Fresno County; photo illustration by The Business Journal.

Nevada-based Galaxy Theatres steps in at Campus Pointe as the Regal @ El Paseo lists for $19.72 million

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Maya Cinemas at Fresno’s Campus Pointe is permanently closed, but a national theater operator that got its start in the Central Valley will take over operations.

Meanwhile, Fresno’s newest cinema property, the Regal @ El Paseo in northwest Fresno, is up for sale.

Maya Cinemas launches Campus Pointe

Maya Cinemas opened in 2015 as part of the Square at Campus Pointe development at Fresno State, the product of a public-private partnership between Fresno developer Lance Kashian & Co. and the California State University system.

Nevada-based Galaxy Theatres, which runs cinemas in Tulare and Porterville, will take over operations at Maya Cinemas, Lance Kashian & Co. announced Saturday. A timetable for the changeover was not disclosed, but “the focus will be on a smooth and timely transition, followed by planned improvements to enhance the guest experience,” according to the announcement.

“Maya Cinemas has been an important part of the Campus Pointe Development and helped establish the center as a destination for entertainment, dining, and community gathering,” the announcement said.

Maya Cinemas also recently closed a theater in Salinas that had been open for 20 years. Based in Pasadena, Maya Cinemas still operates four California theaters in Bakersfield, Delano, Pittsburg and Chino, as well as one in North Las Vegas.

Galaxy Theatres born in the Valley

Galaxy Theatres operates 15 movie theaters in the Western U.S., placing it among the top 4% of movie exhibitors by size in the country. Four of its locations are in California. The Porterville location was the first developed in Galaxy Theatres’ portfolio when it opened in 1998. A Galaxy location at the Tulare Outlets opened that same year.

The Porterville theater was one of the first in the nation to show movies in digital light processing and among the first 500 in the nation to use digital technology, according to the Porterville Recorder.

Galaxy Theatres’ most recent location opened near Dallas in August 2020.

“Being socially entrepreneurial builds strong bonds and goodwill in the communities we serve,” said CEO Frank Rimkus on the company’s website.

Regal’s newest Fresno theater listed

 

While it is still operating — in fact, it ranks among Regal’s top 12% performing locations nationally — the Regal @ El Paseo property in northwest Fresno is up for sale at $19.72 million, according to a LoopNet real estate listing.

The theater opened in 2021 as phase 2 of the Marketplace at El Paseo retail power center built by Southern California-based developers Rich Development and Gryphon Capital.

The 49,780-square-foot cinema complex has projected 2026 sales 86% above the Regal national average, according to the listing. Regal operates 393 theaters in the U.S., according to its website.

Regal’s existing lease term for the property runs through May 2036, with four five-year renewal options, according to the listing.