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The high annual transaction volume that started in 2014 continues. Last year was another strong year with 97 total sales, just six short of 2014’s record 103. The majority of commercial properties sold in 2017 were office buildings (37) followed by retail (24). Though not for lack of demand, industrial and land sales totaled just 17, while there were also two hotel sales. The 4th Quarter’s 22 sales were down from Q1’s high of 31, yet still above the 17 sales-per-quarter average and in line with 2nd Quarter (19) and 3rd Quarter (25)…
South Coast Leasing Summary
Santa Barbara’s office vacancy rate has been slowly increasing since 2014 bringing the current vacancy rate to 6.7%, the second highest level we have seen over the last 17 years. It would be realistic to expect lease rates to level off or decrease, likely driving vacancy rates back toward 5%…
South Santa Barbara County Multifamily Summary
We ended 2017 with moderate sales compared to 2016 due solely to lack of inventory. It’s clear strong demand for multifamily isn’t going to wane any time soon. While the Millennial population grows, they remain locked out of the homeownership game. That means as Millennials continue to save for a down payment they must rent. This trend is expected to continue for the next few years…
Recent News
Noozhawk: Santa Barbara Commission Sides with Institution Ale Over Controversial Neon Sign
Institution Ale co-owner Shaun Smith stands near his Santa Barbara brewery’s controversial neon sign. (Joshua Molina / …
The Independent: Institution Ale Gets to Keep the Neon
Institution Ale's Ryan Smith and son Shaun Smith at the family's new State Street location. Photo: Paul …
Radius Insight: Q2 2019 Market Report
Summary of market insights and analysis from Q2 2019 South Coast commercial sales and leasing activity: Download the complete report here …