Lack of sites keeping popular large stores out of Napa

JENNIFER HUFFMAN Napa Valley Register | Posted: Friday, March 16, 2012 12:30 am |

Some Napans might like a Best Buy or Costco to open in Napa County. But theres one major problem with that wish.

There are no sites to point them to, Napas Economic Development Manager Jennifer LaLibert said.

Napa just doesnt have the space for such larger tenants, according to a recent shopping center vacancy report from Terranomics, a retail brokerage firm.

At the close of the fourth quarter 2011, shopping center vacancy in Napa County stood at 3.1 percent, up slightly from the 2.8 percent mark recorded three months earlier, the report said.

With occupancy levels now approaching 97 percent, the Napa marketplace has reached a point at which vacancy levels are so low that they now threaten growth, especially for larger space users, the report noted. There are few options for tenants looking for larger blocks of premium retail space in the market.

That doesnt surprise me, LaLibert said. Larger stores such as Costco, Best Buy, TJ Maxx or Linens n Things often need acres of property to open, she said.

Best Buy has been looking in Napa for a number of years. Costco has shown an interest, LaLibert said. Without the space, would-be shoppers of these businesses are out of luck.

LaLibert noted that while the next phase of the Gasser Foundation plan for the riverfront behind South Napa Marketplace will have additional retail space, We just dont have large vacant parcels sitting around.

A large retailer would have to assemble parcels and thats not an easy feat, she said.

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Lack of sites keeping popular large stores out of Napa