Alpine Valley Music Theatre is Sold for $7.5 Million
A company based out of Daytona Beach, Florida is now the proud owner of the Alpine Valley Music Theatre.
Consolidated-Tomoka Land Co. announced on Tuesday that is had acquired the property, which includes a 37,000-person amphitheater along with 150 acres of green space, in Walworth County to the tune of $7.5 million dollars.
The new owner is an affiliate of the Milwaukee-based Zilber Ltd.
John Albright, president, and chief executive officer of Consolidated-Tomoka Land Co. said of the purchase:
We are pleased to add Alpine Valley Music Theatre to our growing single tenant net lease portfolio,”
The famous venue is also still under an absolute net lease with Live Nation Wolrdwide Inc. Which Albright continued with:
This iconic venue leased by Live Nation brings not only a high-quality asset but a strong tenant to our portfolio."
The purchase itself isn't all that shocking after the slow years the amphitheater has had recently. Including 2017, when no shows whatsoever were booked.
But 2019 saw a stronger, more robust lineup. Including the return of Dave Matthews Band, who played back-to-back shows in July after taking a two-year hiatus.