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Radius: Radius Completes Sale of Classic SB Restaurant, Historic Building

March 21, 2007

Radius Completes Sale of Classic SB Restaurant, Historic Building

Santa Barbara, Calfornia – 03/21/07

Chad’s landmark history and architecture now owned by restaurateurs.

Radius Group Commercial Real Estate is pleased to announce the sale of a favorite Santa Barbara restaurant to a local buyer. On February 27, 2007, Chad and Michelle Stevens, owners of Chad’s restaurant, purchased the property where they have been operating Chad’s restaurant for the past 15 years. The couple had been leasing the property since they started Chad’s together as young newlyweds in 1992. Bob Tuler, co-founding principal of Radius Group, represented the Stevens family in buying the 2,500 square foot property at 625 Chapala Street. The property was not listed on the market.

The building, at 625 Chapala Street, was originally built as a home in 1876 by Charles E. Sherman, a famous California cattle rancher who was also once the sheriff of Santa Barbara. Sherman built the house in an Italianate style that was common to southern California at the time. Inspired by villas of Italy, the Italianate style was one of the most popular Victorian-era housing styles in America from the 1850’s to 1890’s.

In 1978, the City of Santa Barbara designated the then “Sherman House” as a “House of Merit” because it was one of the few Italianate houses remaining in the area.

“We have been focused on our customers and our business, every day for 15 years, not on preparing for a commercial real estate transaction,” said Chad Stevens. “My wife and I knew we were facing a major point in our business lives, and we both felt that this was going to be difficult. Bob Tuler has a real understanding of Santa Barbara and was with us every step of the way to make the process smoother than we expected. Radius Group provided the level of care that businesses need to understand and make the most of important opportunities.”

Chad Stevens’ grandfather, Sam Battistone Sr., was an original founder of another Santa Barbara landmark, Sambo’s restaurant, and the national Sambo’s chain. Chad and Michelle took over ownership of the restaurant, now Sambo’s on the Beach, in 1998. Stevens grew up in Santa Barbara and is a graduate of the Santa Barbara City College Restaurant Culinary Program.

“Building your own business is a great and challenging dream, with many critical decisions to make along the way,” said Tuler. “Michelle and Chad have worked hard to achieve this milestone. They have created a wonderful dining experience and community spirit around Chad’s that is keeping a colorful piece of Santa Barbara history alive and vital.”

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