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Friday, Jun 24, 2022

Rivian Eyes Laguna Beach South Coast Cinemas

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Irvine electric automaker Rivian Automotive LLC said Thursday it’s looking to remake the Laguna Beach South Coast Cinemas into a retail space.

The company said it has proposed acquiring the property and will remake it into a showroom-like space complete with a coffee bar, screenings and events in addition to opportunities for test drives.

“The community in Laguna has a deep artistic history and a strong love of nature,” said Rivian Senior Director of Facilities Design Denise Cherry in a statement. “This Rivian space will continue the town’s long tradition of connecting people to the arts and outdoors.”

The South Coast Highway property saw the first theater there bow in 1923, with the current structure opened in 1935. The theater closed in 2015.

The 15,890-square-foot property had last been listed at $12.5 million, according to real estate data and analytics firm CoStar.

Rivian said it plans to update the interior, while restoring “several signature” elements inside.

The automaker said the project is slated to open next year.

For Rivian, the Laguna retail project is part of a larger retail strategy that calls for 10 locations to open by the end of next year for purposes of showcasing its SUV and truck, both of which are expected to see 2021 deliveries.

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