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Noozhawk: Bizhawk: Radius Commercial Group Highlights 2013 Sales

January 23, 2014

Noozhawk: Bizhawk: Radius Commercial Group Highlights 2013 Sales

Santa Barbara, California – Published 1/23/2014
Noozhawk
Noozhawk: Bizhawk: Radius Commercial Group Highlights 2013 Sales
By Gina Potthoff, Noozhawk Staff Writer

Radius Commercial Real Estate & Investments reports that the local commercial real estate market has experienced steady growth since the recession hit six years ago.

In 2012, there were 85 sales transactions, up by 142 percent over 2009’s low of 35 and equaling 2005’s 15-year high. Last year’s haul came in just shy of that mark at 83 total commercial sales, as it was difficult to match the rush of transactions completed the final weeks of 2012 when many investors sought to escape the impending capital gains tax hikes of 2013.

The firm reports sales activity has returned to pre-recession levels, and investors are now purchasing prime property for record prices.

Radius also highlighted three deals from 2013 that involved local restaurants. Those were the November Rusty’s Pizza purchase of a new location at 111 State St., the December purchase of Blush Restaurant & Lounge, and the sale of the Funk Zone’s Anacapa Project (The Lark, Figueroa Mountain Brewing and seven other tenants) at 137 Anacapa St. in October to a local investor for $11.7 million.

The preceding article references the recently released “Radius Insight: 2013 Year-End Report”. Click here to read the complete report.

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