Napa, CA (March 29, 2018) – Black Mountain Properties, LLC (“BMP”) has acquired the ±77,203 square-foot, two-building Carneros Commons, located at 2700 Napa Valley Corporate Drive and 851 Napa Valley Corporate Way in Napa, California, for $21.13 million.
BMP purchased the office/flex project from Carneros I, LLC, based in Lafayette, California. BMP was represented by Scott Bertrand, Derik Benson and Tim Howarth of Cushman & Wakefield in the transaction. The Seller represented itself.
“The Cushman & Wakefield team was instrumental in helping us secure this deal and supporting our due diligence. We were attracted to the investment’s quality rent roll and immaculate buildings. The acquisition became obvious to us after digging into what the future holds for the greater Napa Valley Commons development,” said Tony Bullock, President of Black Mountain Properties.
“Carneros Commons seems a natural addition to Black Mountain’s portfolio, and they stand to benefit from the continued vibrancy of the Napa submarket and excellent tenant mix of the project. The owners, tenants and vendors haven’t, yet, been able to take advantage of the adjacent 154-acre Napa Pipe development including the new Costco opening in 2019,” said Bertrand.
About Black Mountain Properties, LLC
Founded in 1937 in San Carlos, CA, Black Mountain Properties, LLC has grown along with the commercial real estate industry, evolving from its simple start to its present-day status as one of Northern California’s most respected family-owned property development and management firms. Black Mountain assists in finding the right facilities for their tenant’s unique operations, in the most efficient manner. Helping them along their way by providing valuable services and improvements, as well as sound advice is part of Black Mountain Properties commitment to their tenant’s success and growth.