Blox Ventures buys movie theater block in Redwood City

Blox Ventures  — which is described as a real estate firm “focused on acquiring, repositioning, and managing high-quality properties in innovation-driven markets” — will look to enhance landscaping for outdoor dining, which will include a playground for children to draw families. 

“Successful downtowns are shaped over time,” Jason Oberman, CEO of Blox Ventures, said in a press release Tuesday. “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.” 

The property was built in 2006 and is near the Redwood City Caltrain station, City Hall and various major employers, including Box, the Chan Zuckerberg Initiative and McKinsey. It’s near Courthouse Square and has a pedestrian walkway, known as Theatre Way, and is near another pedestrian mall on Broadway. 

“This benefit of an accessible lifestyle with work/play balance aligns with Blox Ventures’ focus on supporting healthy living and long-term vitality,” Oberman said in the release.  

Blox Ventures has also invested in the site known as “the Rails,” home to Google’s Waymo autonomous vehicle campus and Google X in Menlo Park.

Amanda Anthony, Redwood City’s Economic Development manager, said the city is aware of the acquisition and excited about the investment.

“Blox Ventures is a Bay Area firm with a strong track record of thoughtful development and community engagement, and we look forward to collaborating with them on the future of Theatre Way as a destination downtown,” Anthony said.

The previous owner was a subsidiary of Deutsche Bank, which split off some years ago from DB to be its own company, DWS Asset Management, Anthony said.