More News

Pacific Coast Business Times: Deals of the Week

January 10, 2014

Pacific Coast Business Times: Deals of the Week

Santa Barbara, California – Published 1/10/2014
Pacific Coast Business Times
Pacific Coast Business Times: Deals of the Week
By Marlize van Romburgh, Commercial real estate

Four downtown Santa Barbara condos recently sold to an unnamed area investor in an all-cash deal for an undisclosed amount. The property at 1532 State St. had been listed at $1.65 million. The roughly 3,500-square-foot space previously consisted of four separate units that had been combined into one office, according to Radius Commercial Real Estate & Investments. The current tenant is a medical practice.

Radius brokers Steve Brown, Austin Herlihy and Chris Parker represented the seller in deal negotiations. Mike Chenoweth of Radius represented the buyer. “At a 5.2 percent cap rate, it was a very attractive opportunity for the investor,” Brown said in a release. “The property had been on the market for just a few months.”

Recent News