Grand Lake Theatre in Oakland sold for $3.75 million to longtime operator

Grand Lake Theatre. 

The Grand Lake Theatre near Lake Merritt has been sold to the man who has been operating the business the last 38 years.

Allen Michaan paid $3.75 million for the theatre. He has been running the theatre under a lease that is set to expire in five years. The previous owners said they were happy to sell it to him because they know he will continue to care for the theatre.

He’s already applied to put the Grand Lake on the national register of historic places.