SAN JOSE, CA-Peter Pau, a Bay Area developer and the head of San Mateo-based Sand Hill Property Co., is preparing to purchase a 5-acre parking lot situated near Vallco Shopping Mall off North Wolfe Road in Cupertino. The triangular-shaped parking lot had a price label of $6.7 million.
Pau is in the process of acquiring the parcel from Pasadena-based East West Bank, which foreclosed the assets in January 2010 when Vallco International Shopping Center LLC failed to pay a $15 million loan.For the full story, go to Silicon Valley/San Jose Business Journal.
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