BY JOEL WILLIAMS
Last month, the Nimitz Group completed its acquisition of 500 acres of land on Vallejo’s Mare Island. Nimitz is a real estate investment and development firm founded by billionaire investor Gaylon Lawrence Jr. and wine magnate Dave Phinney, who recently opened the Savage & Cooke Distillery on the island.
Phinney told Bay Crossings earlier this year, “My partners and I at the Nimitz Group are hopeful that we can be part of the groundswell that becomes a catalyst for the greater success of not only Mare Island but the entire Vallejo community that we are now proud to be a part of.”
The purchase of the land from Lennar Mare Island (LMI) will expand Nimitz’s holding to over 800 acres of prime commercial, residential and waterfront property. The acquisition of the former Mare Island Naval Shipyard from LMI includes 3.6 million square feet of leased commercial, light industrial, manufacturing and office space that is currently home to over 110 businesses and 3,000 jobs along with entitled land and historical buildings cleared for adaptive reuse.
“This acquisition signals the next evolutionary phase in the revival of Mare Island,” said Greg Nyhoff, Vallejo’s city manager. “We are excited to expand our work with the Nimitz Group through an innovative partnership and continue to build the momentum that will establish Mare Island and Vallejo as the premier destination in the San Francisco Bay Area.”
Nimitz is working on a master plan for Mare Island that includes the recent LMI acquisition, the 170-acre Mare Island Golf Course on the southern tip of the island purchased this summer by a Nimitz affiliate and 157 acres of land on the north end of Mare Island, which Nimitz is currently under exclusive negotiations to purchase from the City of Vallejo.
“Combining the north and south parts of the island under a single private developer, and the support demonstrated by our community and city council, will accelerate the growth and expansion of commercial opportunities on Mare Island,” said Nyhoff. “The Nimitz Group shares the city’s vision of anchoring sustainable, living-wage employers in Vallejo in an environment that provides access to the resources today’s businesses need—transportation options, a skilled workforce, quality housing, and a proactive city partner.”
Located at the northeastern edge of the San Francisco Bay, Mare Island Naval Shipyard was the U.S. Navy’s largest and oldest base west of the Mississippi River, until it was decommissioned in 1996. Redevelopment on the southern part of the island began through a public-private partnership with LMI in 1999. The island now consists of a diverse mix of residential, retail, higher educational and industrial residents along with a nature preserve.
“As a business owner already embedded in the Mare Island community, we’re looking at this from multiple levels—not just growth and development but preserving the history; not simply attracting visitors but creating more jobs and housing,” said Phinney. “Our goal is to build a community that current Mare Island residents, Vallejo and the broader Bay Area will have pride in.”
With land and historical buildings still available, and just a 60-minute high-speed ferry ride away from San Francisco, Mare Island has become a new dynamic mixed-use destination in the San Francisco Bay Area.
“Mare Island is a place with a great history and a bright future. Through smart, thoughtful development, we have a long-term vision that will build on the tremendous progress to date and continue to revitalize the community and make it stronger for our current neighbors who live and work here and for future generations that will call Mare Island home,” said Phinney.
“We’re grateful to the City of Vallejo, LMI and all of the local residents and businesses who have supported us over the last year. We are working with LMI to ensure a smooth transition and we’re looking forward to sharing a more detailed vision of Mare Island soon.”
