Radius Group Leases Goleta Space in One of Biggest Office/R&D Deals of 2006
Occam Networks Takes on Former Joslyn Electronics Building
Radius Group Commercial Real Estate is pleased to announce the long term lease of one of the largest office/industrial properties in Goleta. Brad Frohling and Bob Tuler from Radius Group represented the lessor, in leasing 47,000 square feet of the 61,000 square foot building at 6868 Cortona Drive in Goleta which was occupied by Joslyn Electronics for more than 40 years. The space will now be leased to Occam Networks (NASDAQ:OCNW), a publicly traded telecommunications company, to accommodate their employee growth and increasing Research & Development operations.
“Our move to Cortona Drive reflects our growth as a company in terms of products, and people, as well as reaffirms our commitment to South Santa Barbara County,” said Bob Howard-Anderson, Occam’s president and chief executive officer. “We appreciate the expertise and assistance provided by both Radius Group and Newmark Knight Frank.”
Occam Networks was represented by Mike Arnold and Ben Stapleton of Newmark Knight Frank, a global real estate firm focused on corporate representation.
“Occam Networks needed a building that could not only provide flexibility for future growth, but an opportunity for significant improvements to reflect their corporate culture,” said Ben Stapleton, Associate Director for Newmark Knight Frank.
“The leasing of 6868 Cortona Drive tops off a year of pronounced tightening in the office and industrial sectors said Bob Tuler, co-founding principal of Radius Group Commercial Real Estate.” As this quarter closes with the finalizing of several anticipated large commercial leases, this deal signifies an increasingly healthy commercial market in South Santa Barbara County.”
The leasing of the Cortona building represents one of the largest commercial deals of 2006 in South Santa Barbara County. There are 15,000 square feet still available for lease in the building, divisible from 4,000 to 15,000 square feet.
In Radius Group’s most recent South Coast Commercial Vacancy Update (3rd Quarter 2006), the company forecast continued tightening of all market sectors throughout South Santa Barbara County, most pronounced in the office and industrial sectors of the Goleta market. Radius Group also reported a continuing rise in commercial rents throughout Santa Barbara, Carpinteria and Goleta due to lower vacancy rates brought on from a decreasing supply of space and continued strong demand.
About Occam Networks, Inc.: Occam Networks’ broadband loop carrier (BLC) solutions enable telecommunications and other service providers to offer innovative voice, broadband, IPTV and full Triple Play services over copper or fiber. Occam solutions give telco service providers flexibility and scalability to expand their offerings, with simplicity of service deployment. Occam’s BLC products and services are currently deployed at over 180 service providers in North America. For more information, please visit www.occamnetworks.com.
About Newmark Knight Frank: New York-headquartered Newmark Knight Frank and London-based partner Knight Frank operate from over 140 offices in established and emerging property markets on six continents. Last year, transactions were valued at over $41 billion with annual revenues of over $545 million. With a combined staff of 4,500, this major force in real estate is meeting the local and global needs of owners, tenants, investors and developers worldwide. For further information, visit www.newmarkkf.com.
About Radius Group Commercial Real Estate: Radius Group Commercial Real Estate is the most dominant full-service commercial real estate brokerage house on California’s Central Coast. On an annual basis, Radius Group brokers complete an unmatched volume of commercial sale and lease transactions. Radius Group provides displays the strong community engagement and dedication to clients’ needs that only a proven team of real estate professionals can bring. Radius Group also contributes to the business community with regular industry data reporting and forecasting. With a unique team philosophy as its backbone, Radius Group maintains the distinct ability to not only meet their clients’ demands, but go above and beyond to produce desired results with an exceptionally high degree of diligence and flexibility.
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