Press Releases
Basin Street's Preeminent Napa Valley Gateway Business Park
Secures a Perfect Blend of Local Tenants
Essex National Securities, Inc. and C. Mondavi & Sons to Occupy
More than 18,000 Square Feet of Office Space
NAPA, Calif., – November 6, 2007 – Basin Street Properties, a prominent Northern California and Northern Nevada real estate investor of commercial and mixed-use properties, has secured two new tenants at its Napa Valley Gateway Business Park at 550 Gateway Blvd. Essex National Securities, Inc. and C. Mondavi & Sons will take 13,358 sq. ft. and 4,065 sq. ft. of office space, respectively. The arrival of both companies raises the building's occupancy rate to 75 percent.
"We are excited to welcome such top name local companies to Napa Valley Gateway," said Scott Stranzl, vice president of leasing for Basin Street Properties. "Both companies had specific real estate parameters and our team worked diligently to provide office space that best aligned with their respective operational and business needs."
Essex National Securities, Inc. (FINRA/SIPC), an independent broker/dealer solely dedicated to financial institutions, has been operating in Napa for over 15 years. The company's primary employee base derives from the North Bay region. The move to the Napa Valley Gateway Business Park, effective January 1, 2008, is pivotal to the company's growth strategy, which will involve doubling its personnel within the next three to five years.
"The Napa Valley Gateway Business Park is the ideal location for us. We serve a nationwide client base, which frequently visits us in Napa, and we draw on local employee talent," said Warren Geddes, chief financial officer of Essex National Securities. "Working with Basin Street was a delight as they were able to offer a real estate product that met our business goals under a very aggressive timeline. The Basin Street team is more than just a landlord, they are strategic real estate advisors."
Chris Baker of NAIBT Commercial represented Essex National Securities while Basin Street was represented by Matt Bracco and Chris Neeb of Cushman & Wakefield.
C. Mondavi & Sons, the company owned and operated by the Peter Mondavi Sr. Family, is relocating its sales, marketing and administration offices to the Napa Valley Gateway Business Park, effective January 1, 2008.
According to Tom Fossey, chief financial officer of C. Mondavi & Sons, "We are a Napa valley company and it was important to us to do business with a real estate company that knows the region and understands what would be the best fit for our real estate needs. Simply put, Basin Street delivered."
Matt Bracco and Chris Neeb of Cushman & Wakefield represented both the tenant and landlord in the deal.
About Essex National Securities
Established in 1989, Essex National Securities, Inc. is an independent broker/dealer, solely dedicated to providing financial institutions with the support, tools and services needed to grow a successful investment services program. The company has relationships with a broad range of partners, providing full access to a wide spectrum of financial products including fixed and variable annuities, discount brokerage, mutual funds, managed money programs, as well as all types of life insurance and long-term care.
About C. Mondavi & Sons
C. Mondavi & Sons owns the Charles Krug Winery, which was the first in Napa Valley established in 1861. It is owned and operated by the Peter Mondavi Sr. Family. Since 1943, three generations of the Peter Mondavi Family have been pioneers and innovators in the Napa Valley wine industry. Today, the family continues their stewardship of 850 acres of estate land with organic and sustainable farming practice and state-of-the-art winemaking techniques. The Charles Krug Winery focuses production on lush red Bordeaux style blends, New Zealad style Sauvignon Blanc and classically crafted Chardonnay and Pinot Noir and Zinfandel.
About Basin Street Properties
Basin Street Properties, headquartered in Petaluma, Calif., is one of Northern California's and Northern Nevada's prominent developers and managers of commercial properties. Basin Street has become widely recognized for its office, retail and mixed use developments. Founded more than 30 years ago, the company offers a broad range of real estate services, including development, property management, construction management, financial and asset management, and property acquisition and disposition. For more information on Basin Street Properties, please call 707.795.4477 or visit www.basin-street.com.
