by zapolski | May 16, 2014 | Uncategorized |
From the Napa Valley Register By Jennifer Huffman The Beckstoffer family, long-time Napa Valley landowners and grapegrowers, have purchased a historic downtown Napa building that is currently home to Sushi Mambo. The building, located at the northwest corner of First and Coombs streets, is the family’s first investment “in anything but vineyards,” said spokesperson Andy Beckstoffer. It will be placed in the Beckstoffer Family Trust, along with the famed To Kalon vineyard and other heritage vineyards owned by the family. As part of the trust, the building will never be sold or demolished, Beckstoffer said. “It’s that important,” he said. Neither the Beckstoffer family nor its business will occupy any of the space in the building, he said. Both the Roger Lewis Family Law firm and the Sushi Mambo restaurant have long-term leases that will be honored, he said in a phone interview. Beckstoffer said the family may rename it the Beckstoffer Building. The Lewis family was the seller. Beckstoffer would not say how much his family paid for the two-story building. The building was built in 1905 and was occupied by the Napa Valley Register until 1965, when it was converted to a downstairs restaurant with offices above. It was listed on the National Register of Historic Places in 1982. Attorneys Roger Lewis and Robert Blevans bought the property in July 1999. The property is located at a key location adjacent to Todd Zapolski’s redevelopment of the former Napa Town Center. Zapolski helped facilitate the purchase, said Beckstoffer. While there is no joint ownership, Beckstoffer plans to coordinate the building’s use with Zapolski’s development of Napa Center, formerly...
by zapolski | Apr 25, 2014 | Uncategorized |
A joint venture has acquired the CVS-anchored retail and office building at 137 Franklin Street in Chapel Hill for $26.2 million. (From The Raleigh News & Observer)
by zapolski | Apr 25, 2014 | Uncategorized |
by Amanda Jones Hoyle from Triangle Business Journal A joint venture partnership between Durham real estate developer Todd Zapolski and Manhattan-based Atco Properties and Management have finalized the purchase of the CVS Plaza building in Chapel Hill and its nearby parking garage. The partnership paid $26.2 million for the property, Zapolski confirms, marking the first time in 37 years that the building has changed ownership. “Since my years in college and those of my early career in real estate I have known the property now called CVS Plaza as being a 100% location on East Franklin Street,” Zapolski says. The seller was Franklin Street Plaza LLC, an entity owned and managed by Charlotte real estate investor and UNC-Chapel Hill alum and Brent Milgrom Sr. At the time of the sale, the 100,000-square-foot building at 137 East Franklin St. was 96 percent occupied. A CVS pharmacy store anchors the 17,000-square-foot ground floor and basement space, and about 65,000 square feet is occupied by administrative and research offices for UNC-Chapel Hill. It is also ATCO Properties & Management’s first real estate investment in the Triangle. The purchase was made through ATCO’s City Center Retail Estate joint venture program that has also invested in downtown office buildings and shopping centers in select secondary markets like Austin, Charlotte and...
by zapolski | Dec 5, 2013 | Uncategorized |
Provides ‘critical mass of upscale shopping and dining’ From North Bay Business Journal Napa Center is set to have 40 stores and restaurants when it reopens in fall 2015. NAPA — Zapolski Real Estate, LLC, on Thursday said it entered into another joint venture with Trademark Property Co. for significant rework of downtown Napa commercial space, this time to help fund the $25 million renovation and redevelopment project underway at the former Napa Town Center and surrounding buildings. Set to fully open in fall 2015, the project, now called Napa Center, is set to create a shopping and lodging district with 153,000 square feet of space for 40 stores and restaurants plus a planned Archer Napa four-star luxury hotel. Zapolski, which has offices in Durham, N.C., and Napa, in November announced a joint venture with Fort Worth, Texas-based Trademark to buy and rehabilitate the 20,000-square-foot Gordon Building on First Street. Earlier this year, Zapolski inked a deal with LodgeWorks Partners, LP, to develop and run the hotel. The estimated project cost is $140 million — $70 million for the retail and as much for the hotel. “We are very pleased to partner with Trademark, one of the country’s most recognized retail and mixed-use developers with an award-winning track record of creating and operating dynamic shopping and hospitality experiences,” said Todd Zapolski, founder and managing member of Zapolski Real Estate. “Like LodgeWorks, our hotel development partner, Trademark is a leasing and development partner that understands our project’s significance as a key driver in the evolving resurgence of downtown Napa. We now have in place a powerful team to achieve our...
by zapolski | Oct 29, 2013 | Uncategorized |
From Napa Valley Register Developer Todd Zapolski has purchased the historic Gordon Building in downtown Napa from owners George and Jacqueline Altamura. The deal was expected to close this week. The two-story, 20,000-square-foot building is listed on the National Register of Historic Places. “It just makes sense,” Zapolski said of buying the building, which is located immediately east of his current redevelopment project, the Shops at Napa Center and a proposed hotel. Zapolski said he didn’t have immediate plans for the building. “The main project benefits from us being able to say we control it,” he said. The Gordon Building offers approximately 10,000 square feet of space on the first floor and 10,000 square feet on the second. That amount of square footage may be attractive to national or regional tenants who need larger spaces than are available at the Shops at Napa Center, Zapolski said. The center’s largest spaces are closer to 5,000 square feet, he said. “There are tenants we hope that will come along” that want closer to 10,000 square feet, “and the Gordon Building gives us that ability to try to market to them.” Zapolski is currently redeveloping the former Napa Town Center. In addition to that project, in August he also announced plans for a seven-story boutique hotel, called Archer Napa, for the Merrill’s building site. Unlike the Merrill’s building, which is not on the National Register of Historic Places, “we want to preserve the Gordon Building,” Zapolski said. “We’re not going to tear it down.” “We want to look at what makes sense,” but “be patient about it,” he said. While no specific...
