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The second quarter of 2017 came to a close with 18 sales, considerably short of the first quarter’s strong haul of 31 transactions which was the strongest first quarter we have seen in the last 18 years. This brings the first half of the year to 49 total deals. That said, the first half of the year was only 4 transactions shy of tying 2014 for the most prolific first half we have ever recorded…
Leasing Summary: Large Allergan building sublease shrinks Goleta’s industrial vacancy rate
…Goleta (as expected) experienced a major drop in industrial vacancy, plummeting from 3.8% in Q1 to a low of 0.9% in Q2, matching Santa Barbara’s vacancy rate. With this drop we saw a positive absorption of 28.6% over last quarter. The drop in vacancy is largely attributable to the 105,257 SF sublease at 71 S. Los Carneros Rd. by the biotech firm Apeel Technology, Inc…
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