Borreo Building to Be Sold to Local Bidders

 The Napa City Council has directed staff to prepare an exclusive negotiating agreement with West Pueblo Partners (WPP) for the ultimate sale of the Borreo Building at Third Street and Soscol Avenue.

The proposed use for the property is a brew pub.

The decision was made Wednesday in closed session, according to a press release by city spokesman Barry Martin.

According to Martin, WPP has offered $1.9 million to purchase the property, which was the highest offer among the five received.

WPP is a partnership between Michael L. Holcomb; John F. Nichols; Michael Lehn; Holman Teague Roche Anglin, LLP; Michael C. Holcomb.  The City Council will consider approval of an Exclusive Negotiating Rights Agreement (ENRA) with WPP in January. 

“The evaluation team was very impressed by the strength and experience of the development teams, and the quality of proposed uses for the property. Our team analyzed the strength of the developers and tenants, the economic viability of the proposals, and weighed each proposal against the criteria outlined in the Request for Proposals and Offers,” said Napa city economic development manager Jennifer La Liberté.

“In addition to demonstrated developer qualifications and economic viability of the proposal, the criteria included creating a vibrant, active use for the entire property; diversifying the offerings downtown; and ensuring long-term stewardship for the historic landmark property.

According to Mayor Techel, the Council agreed with staff that WPP’s proposal best responded to the criteria.

“The development team is local and has a proven track record for quality development in Napa," Techel said. "The proposed use is a locally owned brew pub that features hand-crafted beer in an urban tavern setting.

"We don’t have many places like that in Napa and we think the use will serve locals well, which was a strong selling point,” Techel added.

The City initiated a Request for Proposals & Offers on Sept. 16, and on Oct. 30 received five proposals for the purchase, renovation and reuse of the property.

An evaluation committee comprised of City staff and a real estate advisor analyzed the proposals and interviewed the development teams.