Newmark Facilitates Sale of Historic Fox Village Theatre in Los Angeles’ Westwood Village

February 15, 2024 9:00 AM

Photo credit to Joseph Chung

Newmark[1] announces it has completed the sale of the iconic Fox Village Theatre, located at 945 Broxton Avenue and 10959 Weyburn Avenue in the heart of Westwood Village in Los Angeles, California. The property sold for an undisclosed amount.

Newmark Senior Managing Director Steven Salas, Vice Chairman Bill Bauman and Executive Managing Director Kyle Miller represented the undisclosed sellers in the transaction.

Situated at the prominent intersection of Weyburn and Braxton Avenues, Fox Village Theatre spans a combined building area of 24,099 square feet. This includes a 17,155-square-foot operating 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 that provides a unique and recognizable identity.

Built in 1929 and designed by Percy Park Lewis, the Fox Village Theatre has a distinguished history dating back to its grand opening in 1931. The property holds an 84% occupancy rate at the time of the sale.

“The Fox Village Theatre is not merely a property; it is a cornerstone of Los Angeles’ cultural legacy. Its rich history, combined with the architectural marvel, has made it an iconic landmark,” said Salas. “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.”

[1] Dba Newmark Knight Frank in California

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Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the year ending December 31, 2022, Newmark generated revenues of approximately $2.7 billion. As of September 30, 2023, Newmark’s company-owned offices, together with its business partners, operate from approximately 170 offices with 7,400 professionals around the world. To learn more, visit nmrk.com or follow @newmark.

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