Newmark recently completed the sale of the renowned Fox Village Theatre, situated at 945 Broxton Ave. and 10959 Weyburn Ave. in Westwood Village, Los Angeles. The transaction price remains undisclosed.
The sellers were represented by a team consisting of senior managing director Steven Salas, vice chairman Bill Bauman and executive managing director Kyle Miller. According to reports, the buyer was a group led by acclaimed film director Jason Reitman.
Originally built in 1929 and designated as a historic-cultural monument in 1988, Fox Village Theatre boasts an impressive total building area of 24,099 square feet which includes an operating movie theatre spanning over17,155 square feet and additional retail space measuring up to6 ,944 square feet featuring popular coffee chain Starbucks with its own outlet occupying3 ,088 square feet . The property’s unique architectural features include a towering height of170-feet .
Salas stated that “The Fox Village Theatre is not just another real estate asset; it holds great significance as one of Los Angeles’ cultural landmarks.” He further added that “Its illustrious past coupled with its stunning architecture has made it an iconic symbol for the city. We are proud to have represented the sellers during this transaction and are confident that this legacy will continue under new ownership.”
This noteworthy change in ownership marks another milestone for Westwood’s historic movie palace.
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