Alpine Valley Music Theatre sold for $7.5 million

Florida-based real estate firm purchases venue from Zilber affiliate

Alpine Valley Music Theatre

Last updated on September 6th, 2019 at 02:46 pm

Daytona Beach, Florida-based Consolidated-Tomoka Land Co. announced it has acquired Alpine Valley Music Theatre in Walworth County for $7.5 million.

The property, which includes a 37,000-person capacity amphitheater and 150 acres of green space, was purchased from an affiliate of Milwaukee-based Zilber Ltd. It is under an absolute net lease with Beverly Hills, Calif.-based Live Nation Worldwide Inc., which operates the venue. It has a remaining lease term of about 11 years.

“We are pleased to add Alpine Valley Music Theatre to our growing single tenant net lease portfolio,” said John Albright, president and chief executive officer of Consolidated-Tomoka Land Co. “This iconic venue leased by Live Nation brings not only a high-quality asset but a strong tenant to our portfolio.

Alpine Valley is located about 40 miles from Milwaukee and 90 miles from Chicago and draws audiences from both markets.

Coming off of several slow years at the amphitheater, including 2017 in which no shows were held, Alpine Valley has booked a more robust show lineup in 2019. Dave Matthews Band, a longtime staple at the venue, played back-to-back shows on July 5 and 6, following a two-year hiatus. Other artists booked this year include the Who, Jimmy Buffett and the Coral Reefer Band, Phish, Hootie & the Blowfish, and the Willie Nelson-backed benefit concert Farm Aid.

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Lauren Anderson
Lauren Anderson covers health care, nonprofits, education and insurance for BizTimes. Lauren previously reported on education for the Waukesha Freeman. She graduated from the University of Wisconsin-Madison, where she studied journalism, history and African studies. In her free time, Lauren enjoys spending time with family and friends and seeing live music wherever she can.