Newmark completed the sale of the historic Fox Village Theatre, located at 945 Broxton Ave. and 10959 Weyburn Ave. in Westwood Village in Los Angeles. The property sold for an undisclosed amount.
Senior managing director Steven Salas, vice chairman Bill Bauman and executive managing director Kyle Miller represented the undisclosed sellers in the transaction. The buyer reportedly was a group led by film director Jason Reitman.
Built in 1929 and declared a historic-cultural monument in 1988, Fox Village Theatre spans a combined building area of 24,099 square feet. This includes a 17,155-square-foot operating movie theatre and an additional 6,944 square feet of retail space, featuring a 3,088-square-foot Starbucks outlet. The property presents distinctive architectural elements, including a 170-foot tower.
“The Fox Village Theatre is not merely a property; it is a cornerstone of Los Angeles’ cultural legacy,” said Salas. “Its rich history, combined with the architectural marvel, has made it an iconic landmark. We are honored to have represented the sellers in this transaction and are confident the legacy of the Fox Village Theatre will continue to flourish.”
