Lakewood Cinema Plaza is a multi-tenant retail and entertainment center located in Lakewood, Washington, which consists of 160,554 SF across five buildings and three pads on a highly visible site with excellent access to I-5. The center is home to a dozen tenants, anchored by well-known regional and national operators including Regal Cinemas, Hair Art Beauty, Rodda Paint, BluePearl Veterinary, and Dollar Tree. This diverse tenant mix provides stable in-place income, as well as massive value-add upside. A key component of the opportunity is the 65,466 square foot theater space currently occupied by Regal Cinemas. While Regal continues to operate at the property, the theater represents a significant repositioning opportunity for a future owner. Depending on the buyer’s strategy, the space, including the significant parking field, could be renewed withRegal, re-tenanted with another entertainment or large-format retailer, or converted to alternative uses such as medical, grocery, fitness, education, or community-serving space.