Montclair's Wellmont Theater Purchased By Pinnacle Companies

After months of speculation, the Wellmont Theater finally has a new owner… Pinnacle Companies.

On Tuesday, Pinnacle– the developer of The Siena and Valley and Bloom (formerly Centro Verde) – announced that it purchased the Seymour Street theater, whose 2,700 capacity makes it one of the largest such venues in the Montclair area.

The landmark concert venue went on the market last year with a price tag of $6.7 million.

According to a release, Pinnacle plans to “invest significant dollars to renovate and upgrade the iconic property into a world-class live entertainment venue.”

“The Wellmont Theater is a tremendous asset for the Township of Montclair, and we are thrilled to bring it up to its full potential as a regional attraction,” stated Brian M. Stolar, president and CEO of Pinnacle.

Concert promoter Live Nation Entertainment will continue program and manage an expanded lineup of performances and programming when the theater re-opens in September, according to the release.

“We’re planning to offer more shows and a greater variety of live entertainment options at the Wellmont than before – with a mix of small, medium and large performances,” stated Sean Striegel, regional senior vice president of music for Live Nation Entertainment.

Additional plans include the construction of a music-themed restaurant and bar located in the former Xocolatz restaurant space adjacent to the theater, which will be connected to the lobby of the theater, as originally designed in 1922.

In addition, Pinnacle is also pursuing the acquisition of the former Social Security building adjacent to the Wellmont Theater on Bloomfield Avenue “in order to support the future, long-term success of the theater in particular and the arts district overall.”

• See related article: Social Security Building Now For Sale

Pictured above: A crowd gathers for a show inside the Wellmont Theater in Montclair.

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