March 11, 2000 |
Through one of the biggest office lease transactions in Los Angeles history, Fox Entertainment Group Inc. will stay put at the landmark Fox Plaza in Century City--at least for 15 more years. Media tycoon Rupert Murdoch's Fox team is consolidating various lease arrangements in the building totaling more than 315,000 square feet through a transaction said to be valued at more than $250 million--pretty close to what billionaire investor Marvin Davis paid for the building 28 months ago.
November 13, 1997 |
Billionaire financier Marvin Davis, one of the original developers of Fox Plaza in Century City, has repurchased the tony 34-story building for $253 million, one of the highest prices paid for an office building in Southern California in recent years. "We have a lot of confidence in the Los Angeles economy, the Westside in particular," said Michael Colleran, an executive vice president for Davis Cos. "Everybody in the area seems to be growing in size and increasing employment."
March 26, 1997 |
Fox Plaza, the Century City landmark known for tenants such as the Ronald Reagan Presidential Foundation and 20th Century Fox Film Corp., is for sale. The building, at 2121 Avenue of the Stars, is being sold in an effort to take advantage of the strong real estate market and the recent growth of Century City, said La Salle Partners of Chicago, which owns the 34-story building. "Fox Plaza has an irreplaceable location, an extremely high replacement cost and a preeminent tenant base," said Earl E.
CALIFORNIA | LOCAL
November 26, 1992
A controversy sparked by the planned expansion of Fox Studios in Century City has centered on how much traffic congestion would result from building additional offices there. But that concern need not undermine a project that would mean badly needed jobs and tax revenues for Los Angeles. A reasonable solution shouldn't be too hard to find.
February 27, 1992
I am writing in response to your "Letters" column of Feb. 16, headlined "Fox's Expansion Plans Continue to Draw Criticism." Indeed, Fox continues to draw criticism, but from the same group of individuals who have opposed Fox from the day it announced it preferred to keep and expand its studio in Century City rather than replace it with condominiums. Eleven years ago, when Fox planned to phase out its studio, the city eliminated 5 million square feet of commercial development rights from its property.
February 16, 1992
Councilman Zev Yaroslavsky seriously underestimates his constituents' opposition to the Fox office park project and misrepresents my role in the Feb. 1 protest by 200 Cheviot residents. The protest was organized by Leslie Johnson and her Cheviot Hills Outreach Committee, not I. My role was as one of 19 representatives of Westside community organizations, including the 59-member Hillside Federation, lending support to the Cheviot community. But then Yaroslavsky did not even send a representative to observe the meeting, so he would not know how broad-based opposition is to Fox's office park proposal.