CPS Energy to buy old Malibu Grand Prix & Castle for $6.8 million

FILE - Mini golf players enjoy Malibu Grand Prix in August 2015 before the park closed for good. The 14-acre property will be used to consolidate multiple CPS Energy work sites into one. FILE - Mini golf players enjoy Malibu Grand Prix in August 2015 before the park closed for good. The 14-acre property will be used to consolidate multiple CPS Energy work sites into one. Photo: Marco Garza Give Me A Shot, By Marco Garza, For MySA.com Photo: Marco Garza Give Me A Shot, By Marco Garza, For MySA.com Image 1 of / 78 Caption Close CPS Energy to buy old Malibu Grand Prix & Castle for $6.8 million 1 / 78 Back to Gallery

San Antonio’s city-owned utility agreed Monday to purchase the Malibu Grand Prix & Castle site on the North Side for $6.8 million.

The 14-acre property will be used to consolidate multiple CPS Energy worksites into one, said John Benedict, the utility’s vice president over real estate planning.

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“It’s in the center of the service territory with access with all those expressways. Now we can respond quicker, give our customers better service, and that also reduces driving distance, which reduces cost and improves safety,” Benedict said.

The board of trustees voted unanimously to approve the purchase of the property, which sits on the northern edge of the Interstate 10 and Loop 410 interchange. Malibu Grand Prix & Castle closed in September 2015.

Benedict said some cleanup is needed on the site, which included a racetrack, mini golf course, and other recreational amenities.

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The property was purchased from Arlington-based Realtex Venture Capital LP and was valued at $5.1 million in 2017, according to records from the Bexar Appraisal District.