Having recently undergone a $1.6 million renovation and benefiting from an ideal location two blocks from State Street and within 0.5 miles of the Funk Zone, this property is one of the most desirable assets in the Santa Barbara market.
The Platform is currently 97% leased by 12 tenants with a weighted average remaining lease term of 2.62 years. Accommodating the diverse tenant mix is highly-functional and versatile space which is suitable for a wide-range of office, flex industrial, and retail tenants.
Situated in the Lagoon District, the Property is part of the warehouse-laden Haley Street Corridor which is Santa Barbara’s burgeoning creative neighborhood just east of downtown. The Property offers immediate access to State Street and is a 10-minute walk to the Funk Zone – the vibrant waterfront district with a thriving amenity base.
The Platform represents an opportunity to acquire a recently renovated, stabilized property that has demonstrated superb collections and tenant retention throughout the COVID-19 pandemic. The Property is being offered for $14,200,000 on an as-is basis for the fee simple interest in the building and the land thereunder.