Apartments located on four adjacent properties in the Lompoc and Vandenberg Village area were sold to a single, private buyer last month for nearly $22 million, the biggest dollar value of its kind in Santa Barbara County in 2016, according to Steve Golis, the Radius Commercial Real Estate & Investments agent who represented the buyer and sellers.
The three apartment communities at 3910 Mesa Circle Dr. were sold for $13 million in 2014, and about $1.5 million of work were put into them between that and July’s purchases, Golis, a Radius partner and co-founder, told Noozhawk.
Those apartments, known as The Diplomat, total 122 units and went for $20 million. Fourteen units in the fourth contiguous property went for $1.85 million.
The area’s rental market is very strong, Golis said, which is enticing more big-name buyers to come in and make increasingly large purchases.
It was the largest transaction of its kind in the Lompoc/Vandenberg Village area, he said, since The Diplomat went for $13 million two years ago.
We put together a list of transactions, lease highlights, and development projects around California's commercial real estate market. The list also …
The Realtors Relief Foundation (RRF) marked its 20th anniversary this week. Within hours of the Sept. 11, 2001 terrorist attacks, the National Association of Realtors began… Read more »
Retail has been hurting for a number of years but the pandemic really drove home that point. During the initial days of… Read more »