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Big Changes for Wine Country's Napa Valley Corporate Park
Auction (March23) SFO
March 7, 2013

Big Changes for Wine Country's Napa Valley Corporate Park

Big changes are afoot at the biggest business park in Napa Valley, and we didn't hear it through the grapevine. We chatted with Kory Kramer, president of the Napa Valley Corporate Park Property Owners Association and CIO of Pacific Hospitality Group, who tells us the park has been rechristened Napa Valley Commons.

Kory (right) celebrates the new name with The Meritage Resort & Spa GM Michael Palmer. Pacific owns and operates The Meritage, the largest hotel in the Napa Valley wine country. Noting that "corporate park" sounds clinical and narrow, Kory says the rebranding responds to a "new reality of what the park is all about." The 25-year-old, 246-acre business park is home to a large diversity of tenants and owners, ranging from The Meritage, wine-tasting rooms, and wine production facilities to tech and medical companies and an automobile museum. (Just make sure you go there before you go to the wine-tasting room.) The park's board of directors wanted to create a cohesive community from a seemingly disparate group, Kory says.

As the wine country's largest business park, it plays an important role in the local economy, he says. According to Cushman & Wakefield's Glen Dowling, Napa Valley Commons contains 28 buildings totaling 1.6M SF of warehouse, light industrial, and office space, in addition to two hotels. The biggest tenants include Mylan Corp (formerly Dey Laboratories), Kaiser Permanente, Regulus Corp, and UPS. Nearly 26 acres remain available for development. The park has a sustainability initiative that includes reclaimed water throughout the project, and new landscaping, street paving, and signage.

The park's Grape Crusher statue marks Napa Valley's southern entrance.

The Meritage just completed an expansion last year, bringing it to more than 320 guest rooms and 50k SF of indoor meeting space. The property also includes a cave with a spa and wine tasting room. And the company isn't done yet. At the end of December, Pacific acquired 9.5 acres from Irvine-based LBA Realty, the corporate park's largest landowner. The company will spend this year going through design and entitlements for a future hotel expansion: additional guest rooms, conference and meeting space, and food and wine-tasting facilities.

How Architects Adapt To Changing Healthcare CRE Needs

Healthcare is a topic on nearly everyone's minds. Polytech Associates' Rob Razzo, who spoke at Bisnow's second annual San Francisco Healthcare Real Estate Summit this morning, says major healthcare players (think Kaiser, UCSF, Stanford, and Sutter in the Bay Area) are all seeking to save both operational and development costs. In turn, architects are looking at opportunities to work with all stakeholders to provide better development solutions and add value to the process.

Above is the crowd of 225—we'll have more coverage next week. What's on the horizon: new technology and evolving program metrics coming directly from healthcare system owners and operators. The objective is to design efficient facilities that make the best clinical use of limited square footage. (That way they can best treat you if you have gout on your square foot.) The firm recently won a long-term contract with the VA to design three new projects. Rob spends his free time with his family and doing the occasional house construction project.

John Sobrato Makes Forbes Billionaire List

The Sobrato Organization chairman John Sobrato—who spoke at Bisnow's Silicon Valley Real Estate Summit last May—is among the real estate moguls on Forbes' recently released list of the world's billionaires. The tech facilities pioneer and his family came in at No. 346, with a net worth of $3.9B.

Since we can't do a Jedi mind meld, we'll politely ask: Please send your CRE news to julie@bisnow.com.

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