One of the most recognizable buildings in downtown Salinas is the Fox Theater, a historic Art Deco-style building, decorated with gold fixtures inside and painted red and beige on the Main Street exterior. The 1921 theater has been part of the neighborhood for over 100 years, and since 1930 has been part of the Fox franchise.
It’s a popular venue for private events like weddings and quinceañeras, and also books public events like concerts and comedy. It also serves as a recording studio.
In recent years, the business emphasis has been on renting out the venue for private events. “It’s hard to make money doing concerts but I don’t just do concerts,” says Anthony Lane Cotroneo, owner and manager of the Fox Theater.
That business model and the building are now for sale. On Aug. 1 the property was listed on the market with an asking price of $4.5 million.
The business side alone was on the market for a year prior, and the building has now been added.
“There are a lot of people interested, but they want the building and so I finally decided yes, I will sell the real estate and the business together,” Cotroneo says. Any existing reservations and bookings, he adds, will carry over to a new owner.
Cotroneo, the former proprietor of Planet Gemini in Monterey, acquired the Fox after a bidding war in 2006. He was forced to shut down for a period of about four-and-a-half months in 2018 over code violations of earthquake safety and fire sprinklers.
Present-day downtown Salinas has also undergone a renovation, adding housing, restaurants and venues that offer live music performances.