REDWOOD CITY, CA-Jay Paul Co. has bought the 20-acre site of the recently closed Malibu Grand Prix with plans to build offices there.
The San Francisco firm beat out other bidders last week for the property at 340 Blomquist St., according to a a report in the San Jose Mercury News. company broker
“It's a great location in the mid-Peninsula,” said Phil Mahoney, an executive vice president at Cornish & Carey Commercial Newmark Knight Frank, who was quoted in the Mercury News article. “It's very difficult to find a five-acre site, let alone a 20-acre site, with (Highway) 101 frontage.”
The company will seek to build three eight-story buildings of class A office space. The name proposed for the development is Harbor View Place.
The site is currently zoned light industrial.
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