AEG Acquires To Historic Virginia Theaters

RICHMOND & NORFOLK VA (CelebrityAccess) — AEG Live has purchased two historic music venues in Virginia, The National Theatre in Richmond and The NorVa Theatre in Norfolk.

Located in downtown Richmond, The National is an Italian Renaissance-style theatre built in 1923 and was added to the National Register of Historical Places in 2003. The 1,500-capacity venue underwent a full restoration in 2008 to the tune of $15.6 million. Hosting 150 events annually, The National sits blocks away from the campus of Virginia Commonwealth University.

Originally opening in 1917 as a vaudeville theatre and later serving as a movie house, The 1,500-capacity NorVa was fully renovated and restored in 2000. The 1,500-capacity venue is located in downtown Norfolk, the second most populated city in Virginia. Added to the National Register of Historical Places in 2000, the music venue hosts approximately 150 events annually.

According to the Richmond Times-Dispatch, AEG acquired The National for $6.7 million and the NorVa for $5.9 million through Mid-Atlantic Propco LLC.

AEG said they are also opening a regional office at the NorVa, to help coordinate east coast activities and which will be overseen on behalf of AEG by the prior owners of the theatre, Bill Reid and Rick Mersel.

“We are fortunate to have acquired these two incredible historic and important theatres that will join AEG Live’s portfolio of elite venues,” said Jay Marciano, CEO, AEG Live. “We are also privileged to now have the opportunity to work with Bill Reid and Rick Mersel as part of our AEG Live team. Their experience in the industry and this marketplace in particular will benefit both our organization and the guests who attend events in the theatres.” – Staff Writers

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