npr edvertisers
visitors movie times

Santa Barbara Weather: 63.3°F | Humidity: 68% | Pressure: 29.89in (Rising) | Conditions: Clear | Wind Direction: South | Wind Speed: 3.4mph [see map]

Free Newsletter
  login You create the news! Send items of interest to ed@edhat.com
    17896 Subscribers
      527 Paid (2.9%)
     79 Commenters
     515028 Page Views

Buy Edhat Shirts
Buy Edhat Shirts
Magic Mansion Fundraiser 5/13/17
Magic Mansion Fundraiser 5/13/17
Buy Edhat Bags
Buy Edhat Bags
Advertise on Edhat
Advertise on Edhat
Buy Edhat Hats
Buy Edhat Hats
News Events Referrals Deals Classifieds Comments About

Goleta Office Building Sold
updated: May 13, 2014, 12:58 PM

By Hayes Commercial Group

An unnamed local investor has purchased 6550 Hollister Ave, one of the elite office properties in the Santa Barbara area. The 39,875 square foot building is located on the corner of Hollister Ave and Los Carneros Rd - one of the premium sites in Goleta's office district and kitty corner from the new Deckers building. The property was offered for $14.2 million. Francois DeJohn and Steve Hayes of Hayes Commercial represented the seller in the transaction.

The transaction marks the third high-value Goleta office property to change hands during the past eight months, along with the sale of 6500 Hollister Ave, a 73,962 sf building sold for $20.4 million in January and 7414-7418 Hollister Ave, a 159,965 sf campus sold for $19.7 million in September of last year. DeJohn and Hayes brokered both of those transactions as well.

"The recession triggered a ‘flight to quality' among investors, and demand for well-located, class A office property in our area has been strong during the past five years," DeJohn said. "However, the market didn't kick into gear until mid-2012 when more owners started deciding to sell. Since then, commercial sales on the South Coast have been very active, including premium office property."

Built in 1986 by Bermant Development Company, 6550 Hollister Ave was owned and occupied by UCSB from 1989 to 2009, at which point it was sold to a local investment group. The building was extensively remodeled in 2010 and leased to Cottage Health Systems, the current tenant.

Send this picture as a postcard

# # # #


10 comments on this article. Read/Add

# # # #


Send To a Friend
Your Email
Friend's Email

Top of Page | Old News Archives | Printer-Friendly Page

  Home Subscribe FAQ Jobs Contact copyright © 2003-2015  
Edhat, Inc.