A commercial land parcel in the Civic Center known as the “Wave Property” is up for sale at $14 million.
The undeveloped 9.2-acre parcel is located on La Paz Lane off Civic Center Way, near the Malibu Library and City Hall. It is currently zoned as a Community Commercial property and may be used for office space, retail, restaurants, storage or other commercial uses. The property is listed by Chris Maling and David Maling with Colliers International, who said in a statement the firm would pursue buyers locally and nationally, and is currently getting interest from overseas.
“We are receiving interest from investors in China and India as well as Sovereign Wealth Funds in the Middle East like the United Arab Emirates and Qatar,” Chris Maling said.