Commercial real estate firm Blox Ventures has acquired a full city block in Downtown Redwood City for $46 million. The deal sees the San Francisco-based company take over approximately 200,000 square feet of prime real estate from DWS Asset Management. The property has been under the ownership of DWS since 2006.

The site is located at the heart of the Peninsula and spans several addresses including 830–890 Jefferson Avenue and 2107–2125 Broadway. It is currently home to a diverse mix of tenants such as Century Theatre, UCSF Health, Five Guys and Vitality Bowls. The block serves as a central hub within one of the most active dining and entertainment districts in the region.

The new owners intend to carry out several upgrades to the property. These plans involve enhancing the landscaping for outdoor dining and socialising. A new playground is also expected to be installed to encourage a family-friendly atmosphere. The property sits in a strategic location near the Redwood City Caltrain station and is surrounded by major offices for McKinsey and the Chan Zuckerberg Initiative.

“Successful downtowns are shaped over time,” said Jason Oberman, CEO of Blox Ventures. “This Peninsula village is a vibrant retail nexus in Redwood City and Blox Ventures’ vision focuses is to preserve the district’s existing character while strengthening its role as a walkable destination of small storefronts, local food purveyors, and everyday services.”

Blox Ventures has a history of investing in the Silicon Valley area. Their previous projects include the Emeryville Public Market and “The Rails” which houses Google’s Waymo campus. Since 2015 the firm has repositioned over six million square feet of real estate. This latest acquisition aligns with their goal of investing in communities that show strong potential for long-term growth.