Market Watch: Radius Group Completes Largest Downtown Santa Barbara Retail Lease In 2010
Radius Group Commercial Real Estate is pleased to announce the leasing of 5,832 square feet of retail space at 820 State Street to G by Guess. Paul Gamberdella and Bob Tuler of Radius Group along with the property owner’s asset manager, David K. Beerman represented the Lessor and Gene Deering of Radius Group represented G by Guess.
This was the largest retail lease completed by a national tenant in downtown Santa Barbara since December 2008.
Through our marketing efforts we were able to attract offers from multiple national tenants interested in leasing this property. Even in today’s soft retail market, high quality buildings in prominent locations in downtown Santa Barbara continue to attract attention from quality tenants. Having G by Guess in this location will undoubtedly increase retail foot traffic on the 800 block of State Street. Hopefully this deal will signal a resurgence of the retail sector in the downtown corridor” said Paul Gamberdella of Radius Group.
According to Gene Deering of Radius Group, G by Guess currently has approximately 44 locations nationwide and they are in the process of expanding. “Many factors attracted G by Guess to 820 State Street. In addition to the buildings location and prominence the space boasts 79 feet of retail frontage along the prized 800 block of State Street which is extremely rare for a space of this size. The recent extensive upgrades to the buildings infrastructure were also attractive to G by Guess who will be completing extensive interior renovations. G by Guess is expected to be open by June 1st” said Gene Deering of Radius Group.
It’s the vintage California lifestyle that makes G by GUESS fashion for the next generation. As the latest brand from denim pioneer Guess?, Inc., G by GUESS was created for young, hip and trendy men and women with an eye for the freshest looks and hottest styles. Award-winning retail concepts celebrate the best of fashion and design, while the online store offers the very latest products with destination pages that always let you know what’s next in your world.
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