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As many have probably noticed, sleepy Santa Barbara has an unusual amount of development projects either underway or breaking ground soon. We have seen a backlog of moth-balled projects — some of which have been 20+ years in the making — which are now moving forward as a result of an improving economy, available financing and political will.
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Leasing Summary
The South Coast leasing market has enjoyed a stable and healthy pace in 2015 with most average gross lease rates up slightly and vacancy mainly in the single digits.
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Recent News
Noozhawk: Rental Apartment Availability On the Rise in Santa Barbara
Rental apartment availability is higher than usual in Santa Barbara. (Brooke Holland / Noozhawk photo) For one of …
Santa Barbara Independent: Brian Johnson: Santa Barbara’s Multifamily Housing Market Returning to Normal
Brian Johnson, Managing Director, Radius Commercial Real Estate; President, Santa Barbara Association of Realtors Strong demand for apartments …
Noozhawk: Santa Barbara County’s Leisure, Hospitality Industries Hit Hardest By Pandemic Job Losses
Retail vacancies on downtown Santa Barbara’s State Street increased to 19.3% at the end of 2020, from …