Krikorian pursuing sale of Menifee theater property
The Krikorian theater and entertainment site has sat vacant since April 2020. (File photo) By Doug Spoon, Editor George Krikorian is negot...
By Doug Spoon, Editor
George Krikorian is negotiating a sale of his property in Menifee Town Center and has had at least one sale fall out of escrow, according to court documents.
Krikorian’s theater site has sat unchanged since construction was halted more than four years ago, when the owner cited funding problems related to the COVID-19 epidemic. The City of Menifee has cited Krikorian several times, has declared the property a public nuisance, and in September 2023 ordered that the partially completed structures be demolished – an order Krikorian has delayed with multiple appeals in court.
In documents filed Aug. 15 in Riverside Superior Court, Krikorian declared that he had a purchase agreement with United Growth Capital, LLC, but that United Growth canceled escrow on Aug. 6. However, the document also indicated that negotiations would be ongoing in an attempt to pursue a new purchase agreement.
“United Growth has indicated verbally to my broker that they intend to present a revised purchase and sale contract in order to extend the due diligence dates as they were not able to complete all of their work within the time frames of the original contract and they did not want to forfeit their deposit,” Krikorian stated in the document.
Krikorian also states that “I have also directed my broker to reach out to two potential buyers who have expressed interested in the property. It is my intention to enter into another purchase and sale agreement as soon as possible.”
Phil Southard, public information officer for the City of Menifee, told Menifee 24/7 that United Growth’s plan was to “complete the vision for a multi-use entertainment and theater complex in the Menifee Town Center.”
Krikorian did not respond to messages seeking comment.
Judge Chad Firetag granted a stay on the demolition order to allow sale negotiations to continue. A hearing has been set for Sept. 20 to further consider the case.
Hi City of Menifee, much thanks finally for the update on the Krikorian building site. Been awaiting an update since that time. Having an entertainment Center and movie for we locals would certainly be a blessing, I'm not getting any younger and would love to see this project come to fruition before my demise, lol I'm 84 and really hanging on for it's completion so my friends and I could enjoy the new venue locally! The only place for those type of things is Temecula and that's too far these days! Hopefully will be accomplished soon, thanks to your push. It's been an unsafe hazard having the walls shored up by sticks, something could happen and someone could be hurt. Again, thanks very much for the information.
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