One section of Napa's Napa Crossing South shopping center, which includes anchor tenant Michaels, has a new owner.
Gateway Crossings of San Mateo County bought the parcel on Aug. 12 for $15.52 million. It is located at 308 Soscol Ave. The seller was Napa Crossing South II of Chico.
Maurissa Heffran of Gateway Crossings also owns another Napa property: the R Inn at 623 Coombs St.
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Her father, Rags Heffran, said that Maurissa Heffran bought the parcel at 308 Soscol Ave. as an investment.
“It’s perfect for the demographics of the area,” said Heffran. “It’s a good shopping center.”
Another section of the Napa Crossing center — the parcel including Marshalls and HomeGoods, sold for $20.35 million in 2020.
The opposite section of the center, home to Habit Burger and other tenants, was not part of this sale.
The Napa Crossing South center had been involved in foreclosure in 2019. At that time, a lender filed foreclosure proceedings against Napa Crossing South II citing $37.3 million in unpaid debt.
That foreclosure was later cancelled.
Napa Crossing South, which was developed by Pacific Properties of Chico, opened in 2014. A sister property, Napa Crossing North, located on Trancas Street at California Boulevard, opened in 2012.
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