Michaan’s not renewing theater lease

posted by Michael Zoldessy on September 6, 2011 at 7:40 am

ALAMEDA, CA — Allen Michaan lovingly restored Auctions by the Bay after leasing it ten years ago but it’s never been particularly profitable for him. Now the hero theater owner is backing away from the property, putting it back in the hands of the city. While he hopes it will continue to be a community resource, it’s unclear how someone could make a feasible business out of it.