It looks like a landmark (small L) movie theater in Westwood is up for sale - and maybe demolition. UCLA has been on a real estate buying spree of late, with its campus purchase in Palos Verdes and the buying of a 1928 office building downtown. Will it buy the 1931 Fox Theater?
From the Bruin: Newmark Capital Markets published an updated sale listing for the Fox Village Theatre in Westwood on June 20. The theater, which is currently privately owned by a family, was first listed for sale Jan. 18. With the property on the market, investors have the opportunity to acquire the theater and the attached retail storefronts, including the adjacent Starbucks.
Newmark’s listing for the theater highlights the commercial appeal of the 24,099 square feet of property. The asking price for the theater, however, is not currently defined in the listing. Newmark Group did not reply to requests for comment...
Regency Theatres, the entertainment company that manages the theater, currently has a lease for the property that expires at the end of July, meaning the new owner will decide whether or not to renew. Regency Theatres declined a request for comment...
Full story at https://dailybruin.com/2023/07/07/the-historically-iconic-westwood-fox-village-theater-is-listed-for-sale.
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