Pinnacle Buys Wellmont Theater, Live Nation To Expand Programming Offerings

(RTTNews) - The Pinnacle Cos, along with its institutional investor, on Wednesday said the firms have collaborated to purchase the Wellmont Theater in Montclair, NJ.

The team has closed the theater and is currently investing significant dollars to renovate and upgrade the property, originally built in 1922, into a world-class live entertainment venue, Pinnacle said.

Live Nation Entertainment (LYV), the largest concert promoter in the world, will program and manage an expanded lineup of performances and programming when the theater re-opens in September, Pinnacle said.

The team 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, Pinnacle said.