Radius Group Commercial Real Estate, one of the largest commercial real estate firms on the South Coast, has moved into a new Santa Barbara office to accommodate its rapid growth in staff and business.
The company has leased more than 6,700 square feet at 205 E. Carrillo St. – twice the size of its former space at 801 Garden St. It’s been almost four years since Steve Brown, Scott Glenn, Steve Golis and Bob Tuler started the company. All were previously employed at Pacifica Commercial Realty.
Radius was founded with a staff of 11. Today, the company totals 23 people including the partners, nine agents and 10 support staff – the largest work force of any South Coast commercial real estate company. During Radius’ first year in business, it reported 49 lease deals involving more than 329,500 square feet of space, with a total value exceeding $26 million. For 2005, the company nearly doubled its leases to 97, with 368,000 square feet valued at more than $28 million.
Building and property sales handled by Radius also have grown. In 2002, it completed 22 sales valued at more than $53 million. By 2005, deals rose to 58 total, and the value of the transactions exceeded $216 million.
Of the three largest commercial real estate firms on the South Coast, Radius leads in sales transactions, both in total number of deals and overall value. Pacifica Commercial, however, leads the pack based on total lease deals completed last year, with 151 transactions valued at more than $46 million, covering nearly 895,000 square feet. Since Radius was founded, there has been consolidation among the leading South Coast commercial real estate brokerages. In 2004, Blair Hayes Commercial and Leider Group merged to become Leider Hayes Commercial.
Institution Ale co-owner Shaun Smith stands near his Santa Barbara brewery’s controversial neon sign. (Joshua Molina / …
Institution Ale's Ryan Smith and son Shaun Smith at the family's new State Street location. Photo: Paul …
Summary of market insights and analysis from Q2 2019 South Coast commercial sales and leasing activity: Download the complete report here …