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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
Pacific Coast Business Times: CRE: 19-unit apartment complex in Goleta nets $5.4M
A 19-unit apartment complex in Old Town Goleta sold for $5.4 million, or $284,211 per unit, marking the first five-unit-plus sale …
Noozhawk: Storybook Moody Cottage is For Sale
One of Montecito and Santa Barbara’s famous storybook-style Moody Cottages is on the market. The Moody Sisters Cottage at 1086 Coast Village Road was …
News Alert: Radius Forecast Signals Market Shift: “The Market Isn’t Slowing — It’s Sorting”
At its 16th Annual Real Estate & Economic Forecast on March 12 in Santa Barbara, Radius Commercial Real Estate delivered a… Read more »