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Valdosta, GA: GTC Ashley 8 Cinemas Purchased by VSU

Posted on Sunday, March 18th, 2012 3:33 PM and updated on Tuesday, March 11th, 2014 3:33 PM

The sale of the GTC Ashley 8 Cinemas in Valdosta, Georgia to Valdosta State University was finalized in February 2012, according to a recent article in the Valdosta Daily Times:

Another addition to North Campus includes the Ashley Cinema property that took 19 months to attain.

“They can totally redevelop it,” said Greg Moore of Mike Hill Real Estate.

North Campus is currently 40 acres and by VSU picking up the theater property, it adds 20 percent of usable land and the facility can hold more than 1,450 people with seating for about 800.

“It was a no brainer as far as growth for the university,” said Moore.

The Ashley Cinema property deal closed in February and was purchased for $2.397 million by the University System Board of Regents.

“That property has probably already been transferred but everything has to be purchased through the Board of Regents,” explained Moore.

While the Ashley Cinema property is being leased back to the occupant until VSU can utilize it, it serves as a step towards the future.

Click the Read link below to view the full article.

It appears that the theater will continue to operate under GTC management for the time being, but the days of seeing movies at this theater are surely numbered.



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