Zapolski Real Estate Dives In, Spearheads $500m Worth of Investment in Downtown Napa

From The Registry: Bay Area Real Estate By Meghan Hall Napa Valley, and in particular downtown Napa, has opened itself up to development in recent years. In 2018, 39 new and expanding business were completed and opened in downtown, which totaled 87,000 square feet of space, according to Napa City Council’s Annual Commercial Business and Construction Update. Developers are taking notice, with one Napa-based developer leading the charge. Since the beginning of the market cycle, Zapolski Real Estate has emerged as an epicenter of development in the Napa, and has acquired, developed or entitled close to $500 million in commercial real estate projects, according to the firm’s Director and County of Napa Planning Commissioner Andrew Mazotti. “If you take our current redevelopment, which includes our shops, our offices, the Gordon Building and the Archer Hotel, and if you combine the pieces we own that are slated for future redevelopment, we are probably looking at close to $500 million when all is said and done,” stated Mazotti. “That is the totality of the redevelopment.” Zapolski Real Estate was founded in 1998 and, and at the beginning of the last market cycle, began acquiring property throughout downtown Napa, noting its potential to grow as locals and government officials began opening the city up to development. “If you go to places like Walnut Creek or Marin, those markets are very well-established. Napa is an emerging market. We believe one day we will look back and say that [these investments] were part of the beginning of downtown Napa.” Mazotti credits Napa’s growth to two critical initiatives put in place by the City and...

lululemon athletica to Open at First Street Napa in September

From The Registry Bay Area Real Estate NAPA, Calif. (September 4, 2018) – First Street Napa – a 325,000-square-foot mixed-use development in the heart of Downtown Napa that will encompass 45 retail shops and restaurants, new creative office space, and the 183-room Archer Hotel Napa – is pleased to announce the mid-September opening of lululemon athletica at 1220 First Street, adjacent to State & First and Mecox. lululemon is an athletic apparel company that aims to create stylish, functional products that enable people to live a healthy, active lifestyle. “The commitment from lululemon to open at First Street Napa is a big endorsement for our vision and the future of Downtown Napa. lululemon has long been a top requested store and we are pleased to deliver this caliber of retailer for our locals and visitors,” said Todd Zapolski, managing partner of Zapolski Real Estate. First Street Napa, owned and managed by Zapolski Real Estate, LLC and Trademark Property Company, welcomed its first series of shops and restaurants in fall 2017 with continued openings phased throughout 2018. Tenants currently open are Archer Hotel Napa, Charlie Palmer Steak Napa, Overland Sheepskin Co., Compline wine bar + restaurant + merchant, Napa Valley Jewelers, Sky & Vine Rooftop Bar, Eiko’s Modern Japanese Cuisine, Lush, Brown Estate, Mecox, Tommy Bahama, Kalifornia Jean Bar, Pacific Union International, Silicon Valley Bank and State & First.. Coming soon are Napastäk and Makers Market. For more information, please visit...

Todd Zapolski appears on Napa Valley Inside Out with Latife Hayson

Todd Zapolski, real estate developer extraordinaire, joins Latife Hayson on this week’s Napa Valley Inside Out video podcast to discuss his latest triumph – the Archer Hotel and First Street Napa. He shares how he got his start in real estate, how he and the late Leslie Rudd built a portfolio worth in excess of a half a billion dollars in assets, and the many challenges he faced in developing three entire blocks in downtown Napa – from the 2014 earthquake to the 2016 floods and the 2017 October wildfires. Todd and Latife talk about tourism, luxury investment in Napa proper and much...

First Street Napa Mixed Use Property Refinanced

From Blau Journal HFF announces the $42 million refinancing of First Street Napa, a 142,026-square-foot, mixed-use retail and creative office property spanning three blocks in downtown Napa, California. The HFF team worked on behalf of the borrower, Zapolski Real Estate, LLC and Trademark Property Company to secure the floating-rate loan through ACORE Capital, LP. Loan proceeds will be used to pay off the development construction loan and provide an unfunded facility to complete the lease up of the remaining tenant suites. The property is part of a newly constructed 325,000-square-foot, Class A, mixed-use development that comprises 45 high-end retail shops, new state-of-the-art creative office space and a 183-room, boutique Archer Hotel, which was not a part of the financing. Centrally loated in Downtown Napa, the property is within walking distance of hotels, restaurants, wine tasting rooms and entertainment venues and it covers three city blocks along First Street, the major vehicular artery into Downtown Napa, the gateway to Napa Valley. First Street Napa offers a blend of regional, national and international retail that the market demands, elevating Napa from first-class to world-class. The HFF debt placement team representing the borrower included senior managing director Peter Smyslowski and associate Bercut Smith. “We are thrilled to be lending to two high quality sponsors on an innovative retail project that will further transform the area,” said Kyle Jeffers, managing director at...

Coast-to-coast vision for downtown Napa’s future

From North Bay Business Journal By Jeff Quackenbush Napa’s First Street has undergone a dramatic $200 million transformation in the past seven years with the redevelopment of an aging, largely vacant shopping center into an anchor for downtown upscale lodging, dining and commerce. At the helm of the 325,000-square-foot First Street Napa project is Todd Zapolski, who has to become a significant force in North Bay real estate in the past two decades. He brought in Trademark Property Company as a partner in the project and lined up Lodgeworks to oversee the 183-room Archer Hotel portion, which opened Nov. 27. The project also has 45 shops and 30,000 square feet of office space, most of which is occupied or spoken for. But beyond that project, Zapolski’s local projects have included the Anton Napa apartments, Carnera Corporate Center in south Napa and the Walmart-anchored Napa Junction shopping center in American Canyon. Throughout his nearly four decades in real estate development, investment and management, Zapolski has learned a key tenet that has proved valuable for the First Street Napa project: Be patient. “You have to understand the area,” Zapolski said, while sitting in the lobby of the Archer. “We try to understand what makes an area work, rather than force it.” Law, rather than real estate, was Zapolski’s planned career path. He graduated from Duke University in Durham, North Carolina, with an undergraduate degree in political science. “Political science is good for going on to law school, but what I didn’t realize was that it also makes sense for real estate,” Zapolski said. “Because much of the built environment involves understanding...

Zapolski Acquires 129,851 SF Shopping Center in Asheville from Edens for $33M

From Rebusinessonline.com By Camren Skelton Whole Foods Market anchors Asheville Market, a 129,851-square-foot shopping center in Asheville, N.C. ASHEVILLE, N.C. — Zapolski Real Estate has acquired Asheville Market, a 129,851-square-foot shopping center located at 4 S. Tunnel Road in Asheville, for $33 million. Alex Quarrier of Berkeley Capital Advisors arranged the transaction on behalf of the seller, Edens. David Vinson and Todd Crouse of NorthMarq Capital arranged acquisition financing through Citigroup Global Markets on behalf of Zapolski. The loan amount was not disclosed. Asheville Market was originally constructed in 1980 as a “Big K” Kmart, but Whole Foods Market replaced the store in 2014 as part of the center’s repositioning. Additional tenants include DSW, Guitar Center, HobbyTown, Chicken Salad Chick, Neo Burrito, Duncan & York and...