Cineplex Inc. will sell its head office building at 1303 Yonge St. between Jackes and Woodlawn Aves. for $57 million as business conditions change in the theatre industry. Most critical for the movie house firm is C-19 related closures. It saw a staggering 90 percent drop in business between the summers of 2019 and 2020. But even long-term, Cineplex and other theatre operators face the challenge of popular entertainment streaming. Cineplex says it will continue to lease back its Toronto office for up to a decade, but plans to consolidate its office space in Toronto.
