multi-use flex/industrial project located along the haley street ......santa barbara, ca | 32,133 sf...
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SANTA BARBARA, CA | 32,133 SF
The PlatformMulti-use flex/industrial project located along the Haley Street Corridor in Santa Barbara’s thriving Lagoon District
Visit 10x.com/theplatform
ACCEPTING OFFERSACCEPTING OFFERS
The Platform, 126 East Haley Street & 417 Santa
Barbara Street, is a 32,133 SF, multi-use flex/industrial project located
along the Haley Street Corridor in Santa Barbara’s thriving Lagoon
District. Having recently undergone a $1.5M renovation and benefiting
from an ideal location two blocks from State Street and within 0.5
miles of the Funk Zone, The Property is one of the most desirable
assets in the Santa Barbara market.
The Platform is currently 97% leased by 12 tenants with a weighted
average remaining lease term of 2.27 years. Accommodating the
diverse tenant mix is highly-functional and versatile space which is
suitable for a wide-range of office, flex, industrial, and retail tenants.
The Property is part of the warehouse-laden Haley Street Corridor,
which is Santa Barbara’s burgeoning creative neighborhood just east
of downtown. The Property offers immediate access to State Street
and is a 10-minute walk to the Funk Zone – a vibrant waterfront
district with a thriving amenity base.
The Platform represents an opportunity to acquire a recently
renovated, stabilized property with the optionality to unlock a
value-add component by renovating 417 Santa Barbara Street and
marking near-term lease expirations to market.
Sean Fulp Lic. #: CA 01389064 Newmark Knight Frank(310) [email protected]
Ryan Plummer Lic. #: CA 01765854 Newmark Knight Frank(310) [email protected]
Ryan Tetrault Lic. #: CA 01996711 Newmark Knight Frank(310) [email protected]
Jason KatzTen-X Commercial Client Management (949) [email protected]
FOR PROPERTY QUESTIONS
FOR TEN-X PLATFORM QUESTIONS
VIEW PROPERTY VIDEO
Property Highlights• Versatile flex/industrial
property consisting of two buildings totaling 32,133 SF
• Diverse rent roll comprising 12 tenants with 2.27 years of WALT
• Suitable for office, flex, industrial, and retail uses
• Recently completed renovations of $1.5M
Location Highlights• Lagoon District location,
near State Street and The Funk Zone - Santa Barbara’s vibrant waterfront district
• Home to tech startups, shops, restaurants, wineries, micro-breweries, and art studios
• Close to SR-101 and Santa Barbara’s Amtrak station
Investment Highlights• In-Place Cap Rate: 4.1%
• Mark-to-Market Cap Rate: 5.41%
• Future upside through renovating 417 Santa Barbara Street and marking rents to market
Transaction Details• Asking Price: $14,500,000
• Accepting Offers
• Additional Preferred Terms: 10x.com/theplatform
• Price and All Terms Negotiable
Streamlining the Transaction and Delivering EfficiencyOffer Select streamlines the traditional transaction process— adding speed and transparency, while providing buyers the flexibility to negotiate purchase terms. With Offer Select, brokers can provide real-time pricing guidance to help buyers come to agreeable terms faster.
Property InformationEvery listing on the Ten-X platform includes a comprehensive property details webpage and due diligence package. With Offer Select, buyers can access necessary information to help underwrite the property quickly and efficiently.
Submit Offer & Negotiate TermsOnce the buyer decides to make an offer, they can easily submit the offer or upload a letter of intent with purchase terms directly through the Ten-X platform — just like a traditional negotiated transaction. Once submitted, the buyer has the opportunity to negotiate directly with the broker.
Begin EscrowBrokers work closely with the seller to select the best offer and open escrow once the purchase agreement is countersigned. Next, a refundable earnest money deposit is submitted and the buyer proceeds to clearing contingencies in escrow.
Close EscrowWhen the contingency period ends, final documents are exchanged and escrow proceeds to close.
Offer Select
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Ten-X, Inc. is a Licensed Real Estate Broker. CA BRE 01994943. For all other state licensing details visit https://www.ten-x.com/company/legal/licensing/
15295 Alton Parkway, Irvine, CA 92618 (888) 770-7332
Property ID: 1000011941
FOR PROPERTY QUESTIONS FOR TEN-X PLATFORM QUESTIONS
Visit 10x.com/theplatform for more information on this property
Sean Fulp Lic. #: CA 01389064 Newmark Knight Frank (310) [email protected]
Ryan Plummer Lic. #: CA 01765854 Newmark Knight Frank (310) [email protected]
Ryan Tetrault Lic. #: CA 01996711 Newmark Knight Frank (310) [email protected]
Jason KatzTen-X Commercial Client Management (949) [email protected]
Santa Barbara train station
The Funk Zone
The Platform126 East Haley Street / 417 Santa Barbara Street
Santa Barbara, CA 93101