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Radius Insight: Q4 2015 South Coast Commercial Real Estate Year-End Market Summary

February 16, 2016

The resurgence of commercial sales activity in the South Coast that began in 2012 rolled through 2015 with an impressive 89 total transactions for the year. In fact, the past four years have been so strong that the annual average which Radius began tracking in 1998 has increased from 65 sales per year to 70. While the last four years have been phenomenal, 2015’s 89 sales (second most recorded) could not top the record high of 103 sales achieved in 2014.
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Leasing Summary

In 2015 the Santa Barbara office market strengthened for the third year in a row. Average asking rates are near all-time highs at $2.99/SF Gross, while vacancy rates remain below 4%. Leasing remained hot for all Santa Barbara office types in the fourth quarter.
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