The San Francisco Business Times has a story today regarding the pending sale of a large piece of Napa Valley real estate, which in-and-of itself is nothing too spectacular.
What is interesting, aside from the whopping $34 million asking price, is that the broker is suggesting the property located at 1055 Atlas Peak Road could be turned into a 50-unit hotel. Why? Because the parcel in question is located super-close to Silverado Resort. Here’s an excerpt from the article:
The 12-acre Napa property is leased to Del Dotto and several other tenants, according to Marcus & Millichap’s Vince Schwab, who represents the seller, Dale Buller. The brokers say a 50-unit hotel could be built on the site with appropriate regulatory approvals.
Del Dotto, a small family-owned vineyard and winery known for its high-end wines and aficionado-friendly barrel-tasting tours of the manmade wine caves at its 1055 Atlas Peak Road site, has constructed an estimated $10 million new winery and caves in St. Helena. It plans to consolidate operations there when its lease runs out at the Atlas Peak Road property…
We dropped by the shiny new Del Dotto facility in St. Helena recently and snapped the following photo:
From the outside, it looks quite impressive–we’ll have to drop by and give the wines a taste and write a review sometime in the near future. Anyway, it’ll be interesting to see who winds up purchasing the Atlas Peak property and if, indeed, Silverado Resort gets even more competition from right down the road.
The full SFBT article is here.