(CelebrityAccess) — Venue management company ASM Global has struck a deal with Taconic Capital Advisors to assume operation of the historic downtown San Diego landmark, Spreckels Theatre.
“We love being part of the San Diego community,” said Chuck Steedman, ASM Global’s executive vice president, strategy, and development. “There is no finer city, and we’re excited to build upon our work at San Diego Sports Arena and grow the spectacular entertainment choices and experiences available to audiences that live and visit here.”
The 1,463-seat, six-story Spreckels Theatre will receive a major refurb through a joint venture sponsored by affiliates of Taconic Capital Advisors and Triangle Capital Group with an eye towards creating a “must-perform’ venue for the market.
“Both ASM and our ownership group share the vision of connecting amazing experiences with the vibrant San Diego market,” said Eric Sitman, director at Taconic Capital Advisors. “ASM brings the equity and experience to breathe new life into this historic venue and will help us realize our goal of bringing the Spreckels back to its historical significance and offering a compelling option for office and retail tenants looking for a differentiated experience. This is a win-win for everyone.”
The theater, which first opened in 1912, was the brainchild of noted San Diego philanthropist and sugar heir John D. Spreckels and constructed to mark the opening of the Panama Canal in time for the Panama-California Exposition held in San Diego in 1915.
The theatre stage was one of the largest ever constructed at the time, and the number of seats signified the year of Spreckels debut at the exposition, according to ASM Global.