It’s a sad day for Napa Valley wine enthusiasts as the news is confirmed that Copia, the American Center for Wine, is officially taking its last sip of the good stuff and moving on out.
The official word on the landmark’s sale comes after closing its doors last November and filing for bankruptcy as suspicions and expectations of further bad news ran wild. Situated on 17 acres of prime real estate just off the Napa River, it has not yet been disclosed whether the estate will be sold or leased as a whole or as individual pieces, but it definitely is being sold.
Regardless of what the final details of the sale end up being, the magnitude of the Copia property remains the same. It consists of an incredible 2 story, 78,632 square foot building with a teaching kitchen and exhibition rooms surrounded by expansive lush gardens that span three contiguous parcels.
Jerry Pietroforte, an Alvarez & Marsal managing director, noted that the property’s prime location “in the center of a world-renowned wine region,” the availabilities of its existing facilities, and the support from local government all present “exciting opportunities for a new owner to develop a vibrant and valuable commercial and tourism destination.” The seller’s agent has also implied significant initial buyer interest in the property, stating, “a number of parties have made inquiries.”
Since no sale price has been listed for the Copia property as of yet, only time will be able to tell the “who, what, where, and when” of this previously wine infused Californian estate.
Via: Luxist and San Francisco Business Times
