RARE OWNER-USER HQ BUILDING NEAR AIRPORT WITH CLASS A IMPROVEMENTS AND INDUSTRIAL ZONING
* A unique owner-user opportunity to acquire a ± 38,640 square foot, single story, class ‘A’ office/industrial building located in Napa, CA.
* The building was constructed in 2000 and had significant tenant improvements completed in 2018 for both of the tenants at that time. With the entire ± 38,640 square feet ready for occupancy, this building would make a great site for a corporate headquarters.
* This 2.83 acre site features 360 degree access to the building and an abundant parking with a ratio of nearly 4 spaces per 1,000 square feet.
* This investment can provide an attractive lease-saving trade-off. As opposed to leasing space, a purchase offers protection against future rental market uncertainty and rate hikes. It further offers occupancy control, certain tax benefits and after-tax equity accumulation.
IDEAL LOCATION WITHIN NAPA COUNTY
* As the nation’s most celebrated wine region, Greater Napa has experienced great growth. In the past 10 years, its GDP has increased ±21.3%, to $11.4 billion in 2023, according the Federal Reserve Bank of St. Louis. Over the next 5 years the region is projected to add close to 10,000 additional jobs to the economy, according to CBRE Econometric Advisors.
* Napa has one of the lowest vacancy rates in California at 3.3% as of 4Q24, per CBRE Research. Industrial rents in Napa County have grown ±17% over the past 5 years. The market’s consistent tenant demand, limited inventory and high barriers to entry for new development ensure that rental rates are poised to continue to rise another ±10% over the next 5 years.
* The property is located less than an hour drive from Oakland International Airport and San Francisco International Airport, and less than a 20-minute drive from central Napa, home to more than ±400 wineries, and about an hour drive from nearby seaports and intermodal railyards.
* Positioned in the North Bay, the property is within a 2-hour drive to the East Bay, San Francisco, Sacramento, San Jose, and the Central Valley with access to approximately 12.4M people within a 100-mile radius. The property provides access to 24% of the U.S. population within an 18-hour drive.