NAPA, CA—Lowenberg Corp., San Francisco, hasacquired a two-building, 313,812-square-foot industrialproperty at 21 and 37 Executive Way in Napa, fromLive Oak Equities, LLC.

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Cushman & Wakefield's San Rafael,Calif.-based team of Glen Dowling, Chris Neeb, andMatt Bracco represented both the buyer and theseller.

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Constructed in phases in 2005 and 2008, thestate-of-the-art warehouse property is situated near theintersection of highways 12 and 29, seven miles west ofI-80, and caters to the Napa Valley wineindustry for case good storage of wine. Dowling recentlycompleted a 71,237-square-foot lease extension withCollotype Labels, which serves the wine industryand expanded from its original 51,000 square feet at 21 ExecutiveWay. Sutter Home Winery also occupies 75,887square feet in 21 Executive and the entire 163,687 square feet at37 Executive Way. Both of these leases were also arranged byDowling.

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“These are two of the nicest, well located 'conditioned'warehouse buildings in Napa County,” said Dowling. “Thistransaction is further evidence that the region's industrialinvestment market is continuing to improve, particularly theNorth Bay submarket. The Napa County industrialmarket continues to be very strong with steady demand and a vacancyrate currently at about 4%. Well-leased industrial productcontinues to draw the attention of savvy investors looking for astable market with strong barriers to entry.”

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David Phillips

David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.