Rumors spread on social media this week about the possible sale and demolition of the Five Points Theatre in Riverside. Building owner Jack Shad released a statement in response:

“Our family bought the 5 Points Theatre Building in 2004 and did a complete historic rehabilitation to return this beautiful building to its original appearance. After almost 20 years, it is time for us to sell the building to a new owner who can maintain that legacy. After a long search, we have found a buyer with experience managing other historic properties throughout the Southeast,” Shad said in an email.

He declined to identify the buyer but said it will honor all of the existing leases, as required by law.

Read the rest of this story at the Jacksonville Daily Record, a Jacksonville Today news partner.