East Troy, WI’s Alpine Valley Music Theatre has been purchased by Daytona Beach, Florida-based Consolidated-Tomoka Land Co. for $7.5 million. The acquisition includes the 37,000-person capacity amphitheater and 150 acres of green space that surrounds the venue. Alpine Valley will remain under an absolute net lease with Live Nation for the next 11 years.

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

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Located approximately 40 miles from Milwaukee and 90 miles from Chicago, Alpine Valley has hosted a plethora of high-profile touring acts since opening in 1977 including the Grateful Dead, Phish, Dave Matthews Band, Jimmy Buffett, and many others. The Who have an upcoming concert at Alpine Valley on September 8th as part of their Moving On! Tour, as well as Willie Nelson‘s annual Farm Aid benefit concert on September 21st.

Head to Alpine Valley Music Theatre’s website for a full list of upcoming events, ticketing, and more information.

[H/T Milwaukee BizTimes]