Beloved Neighborhood Market Returns to 80,000-Square-Foot Property
PALO ALTO, Calif. (Aug. 28, 2018) – Blox Ventures, a Silicon Valley-based investor and real estate operator, announced today it signed a 10,600-square-foot lease with the JJ&F Market, a family-owned business and local favorite that for decades earlier operated on the Palo Alto site. The property is anchored by First Republic as its regional office hub.
“I’m delighted to see JJ&F reestablish the cherished market in its former College Terrace location,” said Palo Alto Mayor Liz Kniss. “This is welcome news for the community and everyone involved.”
Blox Ventures acquired the property in July 2018, and immediately sought out JJ&F Market whose owners, the Khoury family, previously owned and operated in the neighborhood. The original JJ&F Market building was demolished in 2014, ending a six-decade history of operation on the site, to make way for the 80,000-square-foot newly constructed retail, office, and residential property.
“We not only wanted a high-quality market at the property, but specifically targeted JJ&F Market to bring it back to its former home — a true win for the community, and a personal joy for me as my family enjoyed frequenting it from my childhood until it closed a decade ago,” said Blox Ventures CEO Jason Oberman. “We’re pleased we can now also contribute to the local organic food movement.”
Providing a market was one of the amenities targeted for this site as a transit-oriented, mixed-use development project approved in 2014. The property benefits from its proximity to the area’s key innovation centers, adjacency to Stanford University, a vibrant retail node, and Caltrain.
The JJ&F Market will offer an onsite menu prepared by Daniel Sanchez, whose experience includes Michelin-starred and other top restaurants from across the globe, including Abac, The French Laundry, La Toque, Cyrus, Morimoto, Le Cirque, and Evvia Estiatorio – and was a runner-up on Food Network’s Chopped Grill Masters Napa. In addition to the JJ&F Market, the Khoury family recently opened 2012 Courthouse in Redwood City and operate other nearby markets.
“After 43 years in business enjoying serving people across the greater Bay Area, my family — including generations from my uncle to me and my sons — are very personally thrilled to return to our first roots here in Palo Alto,” said Jalil “Papa Joe” Khoury. “We are looking forward to re-connecting with old friends here as we open our market with locally sourced produce, meats and, of course, our enduring emphasis on service.”
The 2100 El Camino property is the third of recent investments in Palo Alto that principals from Blox Ventures have acquired — and one of the few in Palo Alto’s core that occupy a full city block. It is less than half of a mile to the nearby Caltrain station and has views in all directions.
About Blox Ventures
Blox Ventures, based in Silicon Valley, is a privately owned real estate investment firm focused on buying, renovating, and operating commercial properties. Blox Ventures’ principals have acquired and disposed of over 6 million square feet of real estate valued at over $3 billion. Blox Ventures has worked with the area’s leading technology companies on their innovation spaces and campuses. For more information, see http://www.bloxventures.com/
JJ&F Market is owned and operated by the Khoury family whose principals are Jalil “Papa Joe” along, with sons Mark and Christopher. With a history of providing locally sourced produce and meats to markets and restaurants in California for more than 43 years, they are now in four select locations in the Bay Area.