Arlington’s Regent Theatre looks for new ownership

The operators of the historic Regent Theatre in Arlington are preparing to sell, casting a wide net to find a new person or group of people ready to uphold the venue’s legacy.

The news was announced by the Regent in a release this week. Richard Stavros, the principal owner, is retiring after leading the Regent since 1993. Stavros is looking for a new operator who will “carry forward the theatre’s rich past and maintain its standing as a cultural hub in the community.”

Stavros took over leadership of the Regent more than 30 years ago when the previous owner only received proposals for turning it into a restaurant, a gym, or an office complex, according to the release. Stavros decided to blend the Regent’s movie house history with a modern performing arts center. 

Real estate developer Gary Adelson purchased the building in 2001, teaming up with Stavros and his partner Leland Stein to steer the Regent further into a performing arts venue. Today, a 460-seat performance space hosts live music, comedy, and dance shows. Stavros and Stein touted a series of renovations completed in 2022, including a new stage floor and “state-of-the-art sound, lighting, and projection systems.”

“The decision to transition the business is not taken lightly,” Stavros said in a statement. “We are intentionally seeking an operator who shares our passion for the arts, community engagement, and preserving the historic significance of the venue.” 

According to the release, “the new management team will acquire the lease of the theatre (along with its underground flexible rehearsal space), its assets, and the goodwill associated with the brand.”

When the Regent was first built in 1916, it had a movie theater, storefronts, offices, and a bowling alley and pool hall in the basement. It has operated continuously since then.

“It’s been a joy and honor for us to have helped define the Regent’s unique programming and to grow the business over the past 20 plus years, and I hope to continue to be part of The Regent Theatre as we add to its legacy during this next exciting chapter,” Stein said in a statement.