Checked my email this morning at work to find this letter with a bit of news about what’s going on around Napa. And I thought it interesting enough to pass on.
The newsletter of Redevelopment
What’s Happening
If it seems like there’s been a lot of changes at Napa shopping centers lately, you’re right. And if it seems like the “for lease” signs indicate more changes coming at other centers, you’re right again. Commercial real estate specialist Gary Van Dam says the makeover at north Napa’s Bel Aire Plaza is typical of the trend: property owners invest in an upgrade, resulting in higher rents and higher-profile tenants. As the big players get in the game in Napa, the marketplace becomes more challenging for the mom-and-pop stores. There’s a “keeping up with the Joneses” factor in play as well. Redwood Plaza’s remodeling continues, perhaps in response to upgraded facilities at the new “lifestyle” Safeway on Trancas. Not surprisingly, recent sales figures show customers flocking to the expanded and updated centers, putting pressure on competitors. At the other end of the spectrum is South Napa’s Riverpark Shopping Center —no makeover in the works at this point, and still lacking an anchor tenant since Vallergas closed. Nevertheless, Van Dam says all but 3,000 square feet of the center is under lease. With the addition of new housing to the west, is this center ripe for a flip? How does the impending completion of the new Maxwell Bridge impact the commercial prospects of Imola corridor? In Downtown Napa, a “for lease” sign sits adjacent to the Safeway store. But it’s not the grocery store that’s on the market—it’s the vacant space on the north side of the site created by recent demolition of the Ben Franklin store that’s up for grabs.
Downtown Napa Update
FOODIES ALERT!
Cuvee is the name of the new restaurant (set to open May1, says the “SF Chronicle”) on Soscol in the former Budo location. Comfort food, wine served from the barrel (yes, that’s right) and live jazz—need we say more?…Pastry lovers may mourn the passing of Sweet Finale Patisserie , but the intoxicating aromas will continue at Main and Pearl. The bakery will shift focus to bread, supplying n.v. restaurant. Café service may continue…Along Napa Creek, Loco’s is now open where Belle Arti used to be (the Sicilians having moved in with the gang at
The Depot.) Tex-Mex food, from the people who formerly brought you Rio Poco. (Is this restaurant go-round getting confusing?)…A line is forming on First Street to await the opening of the Oxbow Public Market, the new venture from the creators of the Ferry Building Marketplace that is ever-so-hot on the waterfront in San Francisco. Approved by the City Planning Commission, the Oxbow Public Market will offer high quality farmer-to-consumer products in the location just west of Copia. Listen for oohs and aahs as tenants are announced. (Oh, please, let there be Cowgirl Creamery, Gromit!) But be patient now, looks like 2007 before the doors open…Other developments downtown: The public hearing for the Inn at Town Center began at the Planning Commission April 20th. If all goes as planned, Lodgeworks will break ground in September …And speaking of hotels, Intrawest plans to open sales office on First Street, in the space next to Inti that is undergoing seismic retrofit now. From this spot will be sold the fractional ownership in rooms at “The Verasa” (formerlyRiverbend Resort) on McKinstry. Said sales office to include wine tasting and other goodies to entice the passers-by. Some prep work at “The Verasa” site is expected to start this summer.
Tags: Interesting, Local, Napa, News
