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Noozhawk: Major Renovation of Citibank Building on State Street Nears Completion

November 19, 2012

Major Renovation of Citibank Building on State Street Nears Completion

The commercial building anchored by Citibank on the corner of State Street and Hitchcock Way in Santa Barbara has undergone an extensive transformation. (Radius Commercial Real Estate & Investments photo)
Santa Barbara, Calfornia – Published 11/19/2012
Noozhawk
Major Renovation of Citibank Building on State Street Nears Completion
By Vince Coronado, for Radius Commercial Real Estate & Investments

Major Renovation of Citibank Building on State Street Nears Completion

The extensive transformation of a commercial building anchored by Citibank on the corner of State Street and Hitchcock Way is set to be completed by Nov. 30, according to Radius Commercial Real Estate & Investments, which represents the building’s owner, State and Hitchcock LLC.

Upon completion, roughly 12,600 square feet of “new, modernized office space will be available for lease on the second and third floors,” Radius Principal Bob Tuler said.

The building, which had not been updated since it was erected in the 1970s, had limited occupancy on the second and third floors over the last decade due to inefficient configuration and inefficient building systems.

“The upgrades were completed in such a way that flexibility was built into the design,” Radius broker Gene Deering said. “A tenant leasing one of the 4,400-square-foot spaces could easily expand into the entire 6,300-square-foot floor plate.”
The building, located at 3757 State St. adjacent to Whole Foods, changed hands from Regency Centers to State and Hitchcock in October 2011, and has undergone an estimated $2 million in renovations, including new efficient electrical, mechanical and HVAC that are expected to dramatically reduce costs for tenants.

The remodel completes the total renovation of the Whole Foods Center and office building.

In addition to other interior fixes such as eliminating wasted hallway space and improving overall functionality by adding new offices, restrooms, stairs and elevator, the exterior of the building also has been modernized to benefit the aesthetic of the upper State Street corridor.

“The owner has committed to a total upgrade of all aspects of the space, down to the flooring and finishes, so that new tenants will be able to move in and go from day one,” Tuler said. “It makes our job as brokers easier working with an owner willing to do everything the right way and provide a Class A office space that enhances the experience of both tenants and clients.”

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