Financier and onetime owner of 20th Century Fox Marvin Davis has re-purchased Fox Plaza, the Century City office building that houses some of Fox’s corporate offices, Davis’ offices and several entertainment and corporate law firms.
In the deal, made for an undisclosed amount, Davis becomes the tower’s sole owner. When the project was announced in 1985, land and construction costs were reported to be between $110 million and $150 million.
Davis had been one of the original developers and owners of the building, built in 1987 on the 2.7-acre property Davis retained after selling the studio to Rupert Murdoch two years earlier. He sold his 50% stake in the building to Fox in 1988. The property was then sold to two institutional investment funds managed by LaSalle Advisers of Chicago.
According to a release, the 710,767-square-foot tower is 98% occupied.
Known as the “Die Hard” building after it was used as the setting of the first Bruce Willis actioner, the tower also serves as the post-White House office of Ronald Reagan.