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Radius Completes 2nd Largest Industrial Sale in Goleta in 2010

November 30, 2010

Radius Completes 2nd Largest Industrial Sale In Goleta in 2010

Santa Barbara, Calfornia – 11/30/10

Radius Commercial Real Estate is pleased to announce the sale of 44,800 square feet of office, R&D and industrial buildings at 5511-5571 Ekwill Street in Goleta.  Scott Glenn and Brad Frohling of Radius Group represented the Seller (Ekwill Street, L.P.), an entity affiliated with SIMA Corporation.  Paul Gamberdella and Bob Tuler, also of Radius Group represented the Buyer, Majestic Asset Management, Inc., of West Hills.  The property, consisting of a complex of four R&D/industrial buildings is the 2nd largest commercial sale in Goleta in 2010.

Majestic Asset Management is proud to announce this acquisition only one month after the formation of the Majestic Industrial Park, LLC.

Brian Lezak, Principal of Majestic, stated, “The acquisition of the Ekwill Portfolio is the first step in the realization of our business plan to grow our portfolio with a focus in the Santa Barbara area.” “Working with the Radius Group was a key element in the acquisition of this property.”

David Fradin, of Majestic said he “was pleased to add to this fully-leased asset to their portfolio.”

Kevin Burnes, President of SIMA Corporation, stated “We appreciate Radius’ performance on this assignment and their involvement has allowed our team to focus on the execution of our investment program which has affected approximately $75 million in real estate transactions over the past year for the benefit of our private and institutional investors.” 

Paul Gamberdella speaking on behalf of Radius added that “The 100% leased Ekwill R&D Campus currently has a great mix of tenants of various sizes and business types serving office, R&D and industrial tenants. The property has excellent parking and a convenient location minutes from UCSB, Goleta’s central business district and retail amenities.  Due to the project’s ability to appeal to a deep pool of potential tenants on the South Coast, this park will always retain a high level of occupancy and prove to be a great acquisition for Majestic Asset Management.”

Majestic owns and manages over 50 properties totaling close to 1,000,000 square feet of commercial buildings and 1,500 apartment units.

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