The future Napa Commerce Center near the Highway 12/29 intersection includes six buildings; three warehouses and other light industrial buildings totaling about 388,000 square feet of leasing space. The demand for warehouse space is strong and there is not much land to buy for development. Industrial vacancy in Napa has consistently been in the low single digits for the past several years with limited new construction. The Napa industrial market benefits from local regulations requiring major wine production and storage to take place in commercial zoned areas instead of on the vineyard. Additionally, to enjoy the coveted status of being a Napa Valley wine, at least 85% of the grapes must come from the region and at least 75% of the wine must be fermented there as well.
“There is tremendous at demand out there that’s gobbling up any existing space,”
Glen Dowling, managing director at JLL, a brokerage firm seeking tenants for Napa Commerce Center.
Napa Commerce Center is a joint-venture development with the combined efforts of Kraemer Land Company, Cardinal Development and The Pigman Companies on 32 acres of entitled commercial land in the Napa Airport Submarket. The subject property, located at the SW Corner of Highways 12 and 29, is arguably the most visible and well-located parcel in the area with frontage on the most highly traveled intersection in the region.
The Napa Commerce Center consists of +/- 389,000 SF of planned industrial and flex buildings in 6 buildings with a corner parcel for a gas station. Mass grading commenced on the South side of the site in May 2018.
Building F, totaling +/- 81,663 SF, is nearly complete and ready for Tenant Improvements. Market vacancy remains below 2% with minimal amounts of new industrial buildings planned in the near future. Interested users are primarily related to wine storage and distribution but also include some wine production users.