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Cushman & Wakefield National Industrial
9500 W. Bryn Mawr Avenue
Suite 600
Rosemont, IL 60018
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Release Date: Tuesday, August 12, 2014
Media Contact: Evelyn Weiss Francisco (201) 796-7788
Represents both Buyer and Seller in Trade of Two-Building Napa Valley Crossroads
NAPA, Calif., August 12, 2014 – Commercial real estate services firm Cushman & Wakefield has completed the sale of Napa Valley Crossroads, a two-building, 313,812-square-foot industrial property at 21 and 37 Executive Way in Napa. The firm's San Rafael, Calif.-based team of Glen Dowling, Chris Neeb, and Matt Bracco represented both the buyer, San Francisco-based Lowenberg Corp., and seller Live Oak Equities, LLC.
Constructed in phases in 2005 and 2008, the state-of-the-art warehouse property is situated near the intersection of highways 12 and 29, seven miles west of I-80, and caters to the Napa Valley wine industry for case good storage of wine. Dowling recently completed a 71,237-square-foot lease extension with Collotype Labels, which serves the wine industry and expanded from its original 51,000 square feet at 21 Executive Way. Sutter Home Winery also occupies 75,887 square feet in 21 Executive and the entire 163,687 square feet at 37 Executive Way. Both of these leases were also arranged by Dowling.
"These are two of the nicest, well located 'conditioned' warehouse buildings in Napa County," said Dowling. "This transaction is further evidence that the region's industrial investment market is continuing to improve, particularly the North Bay submarket. The Napa County industrial market continues to be very strong with steady demand and a vacancy rate currently at about 4 percent. Well-leased industrial product continues to draw the attention of savvy investors looking for a stable market with strong barriers to entry."
Cushman & Wakefield's industrial brokerage platform provides global resources and local expertise for tenant and landlord representation, disposition and acquisition services, transaction management, and industrial consulting including labor and demographic analysis. In 2013, globally, this group completed nearly 8,900 industrial real estate transactions totaling 348 million square feet, with an aggregate value of $13.3 billion.
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