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3/24/16
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JOSS Realty Partners, out of New York, closed on its first acquisition in the Bay Area, purchasing Napa Square, a 65.8k sf mixed-use asset in Napa. The property was sold by CDI Companies in a deal reported to be worth just over $39 mil, or $590/sf.
Originally constructed in the 1950s, the complex was completely renovated for around $25 mil in 2009. It’s located along First Street, between School and Franklin Streets in Napa’s downtown.
Napa Square consists of 41k sf of office space along with 24.9k sf of ground floor retail. Tenants include US Bank, Wells Fargo, Charles Schwab, UPS and two restaurants.
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