The property lease for Westwood’s iconic Fox Village Theatre, which was originally listed for sale on Jan. 17 by Newmark Group Inc., is set to expire at the end of July and it is unclear whether it will be renewed.

The theater, which famously appeared in Quentin Tarantino’s “Once Upon a Time in Hollywood,” has a rich history within the L.A. film community. For decades, Westwood’s Village Theatre has hosted dozens of movie premieres, as well as critic screenings for major releases such as Paul Thomas Anderson’s “Licorice Pizza.” 

The theater has a 1,375-seat capacity and is a hot spot among UCLA students, as well as the affluent communities of Brentwood, Bel Air, Beverly Hills and Century City. The 24,099-square-foot property – which includes the theater itself, its distinguishable 170-foot art deco tower, as well as an adjacent Starbucks store – is on sale for an undetermined price.

According to Newmark’s listing, which was updated on June 20, “this is a multi-generational asset which has not been previously made available for sale by the ownership adding to the uniqueness and rarity of the offering.”

The investment highlights include bullet points such as: “rare opportunity to acquire one of the most iconic assets in Westwood Village; tremendous film and entertainment history associated with the property; most prestigious property in a high barrier to entry submarket; rare on-site parking in a sub-market that has limited parking options.” Amenities include a corner lot, signage and signalized intersection. 

Regency Theatres, the company that operates the village theater, took over operations in 2010. It is unclear whether its next owners will renew the lease with Regency.

Built in 1929, the cinema was opened in 1931 by Fox Film Corp. founder William Fox and has remained an architectural classic. Over the years, the theater has become such a beloved piece of iconography within L.A. County that the city officially dubbed it a historic-cultural monument in 1988.