Beacham Theatre
Despite the new recognition for the theater by the City of Orlando, Mr. Juarez saw the building as a liability with many pleasant memories surrounding it, but with little economic potential. Citing maintaining the building and rehabilitation of the area, he first announced plans to raze the building for an unspecified mix-use purpose and later to redevelop the former Beacham Block with a new skyscraper that would be used as a combination office building and hotel. In 1988 Juarez received two successive approval Certificate of Appropriateness permits from the City of Orlando Board of Historic Preservation to demolish the Beacham Theatre within 180 days. The "Bye-bye Beacham Bash" was promptly organized by Orlando Remembered and attended by former theater doormen, ushers, candy girls, and cashiers on December 9, 1988. However, Mr. Juarez's redevelopment plan and the new construction of a 20-story office building and parking garage fell through at the last moment due to poor timing. Additional parking could have contributed to a revitalized downtown area, but the market for office space in Downtown Orlando was nearly saturated in the late 1980s and there was a general lack of interest from prospective future tenants. Had the project materialized, Mr. Juaraz would have been required to reconstruct a replica of the original Beacham Theatre facade using original building materials of brick, stucco, decorative tile, and pastel colors.
UC Theatre
The building was acquired by new owners in 1999 and Landmark negotiated a $3,000-per-month lease to continue in the space. According to the new owners, Landmark later requested a reduction in rent to $1,500 per month and asked to make the property owners responsible for the entire cost of seismic retrofits. The theater closed in March 2001 after Landmark—now owned by Silver Cinemas, Inc.—decided to pull out of the space rather than spend its half of the $500,000 needed for seismic upgrades required for the unreinforced masonry building in the wake of the 1989 Loma Prieta earthquake (the UC was designed and built in 1916 to 1917, preceding the 1933 California ban on unreinforced masonry buildings). The UC had been "marginally profitable" prior to its closure due to low attendance, and the theater had switched to weeklong runs rather than daily rotations in the fall of 2000. 
One year after closing, the UC hosted a production of "Medea" by Euripides from April through June 2002. The production company, the Shotgun Players, were allowed to play rent-free in exchange for bringing the building up to city codes. The theater was named a landmark by the City of Berkeley on 6 May 2002. In early 2006, plans to convert the theater to a jazz club were submitted to the City of Berkeley.