q42017 - hayescommercial.commillion with target teed up to lease the property. there are 14 retail...

© 2018 Hayes Commercial Group

Q42017Year-End Review

222 E. Carrillo Street, Suite 101 Santa Barbara, CA 93101

805.563.2111 HayesCommercial.com

SOUTH COAST COMMERCIAL REAL ESTATE

COMMERCIAL SALES: Record Dollar Volume

The current cycle of elevated commercial real estate sales activity on the South Coast has lasted more than five years and is unprecedented in both volume and duration. Total dollar value of sales reached new heights in 2017, buoyed by the $240+ million sale of the Bacara Resort. Even setting aside hotel sales, 2017 was among the top three years on record for commercial sales volume. Demand was persistent for most property types, as evidenced by the frequency of off-market transactions, which repre-sented 44% of sales.

While buyers are active, their pricing expectations are relatively sober. Recent interest rate increases, though gradual, have contributed to rising capitaliza-tion rates. Looking ahead, the profound destruction and disruption caused by the Thomas Fire and the Montecito mudslides will have ripple effects on South Coast commercial real estate for years to come and is expected to slow down sales activity in the near term.

Office property dollar volume in 2017 was 25% above the prior 5-year average, regis-tering significant sales in all three market cities. In Goleta, 71 S Los Carneros Rd and 26 Castilian Dr were both purchased by local investors for $23.5 million and $16.6 million, respectively. In downtown Santa Barbara, the El Centro office building at 19-31 E Canon Perdido St was purchased by a local investor for $8.0 million, while 414 E Carrillo St was purchased, also by an investor, for $8.5 million. Following a year with no sales, Carpinteria produced five office sales in 2017, three of which were owner-user purchases, including LinkedIn’s acquisition of 1000 Mark Ave for $16.9 million.

Land traded above trend both in trans-actions and dollar volume during 2017. There were two notable sales of land with existing improvements and long-term ground leases: an institutional investor bought 5.8 acres of land under Kmart at 6865 Hollister Ave for $20 million, and an investor based in Los Angeles purchased the land under the 48-unit apartment building at 120 N La Cumbre Rd for $11.9 million.

SUMMARY

Market ChangeCompared to 2016

Highlights• The sale of the Bacara, on

top of strong office sales, produced record dollar volume for commercial sales, though the number of transactions decreased.

• Office vacancy in Goleta decreased to 8.8%, the lowest level in 10 years. Santa Barbara vacancy is above 5% despite active leasing.

• High retail vacancy persists on the State Street corridor, despite strong transaction volume during 2017.

• Industrial vacancy is at record low rates in Santa Barbara and Carpinteria.

Sales Transactions DOWN

Sales $ Volume UP

Lease Transactions DOWN

Lease $ Volume DOWN

Lease Rates DOWN

Net Absorption NEGATIVE

Vacancy UP

Change values are for all commercial property types since 1/1/2017.

We are here to help!

With our community still reeling from damage and trauma caused by the Thomas Fire and Montecito mudslides, we pause to remember lives lost, honor the work of firefight-ers and others in harm’s way, and resolve to help those in need. Restaurants, service businesses, hospitality, and retailers have all endured a dramatic loss of revenue. Our door is always open to advise, support and assist tenants and property owners facing challenges in the wake of these devastating events. -Hayes Commercial Group




For sales of retail property, dollar volume decreased 40% from 2016. Newsworthy sales included the Starbucks building at 800 State St – never before on the market – which was purchased by a local investor for $8.6 million. And in December, the Galleria building at 3891 State St was purchased by a Los Angeles-area developer for $12.5 million with Target teed up to lease the property. There are 14 retail properties for sale in Santa Barbara, which is at the high end of the range, historically. The Marshall’s building at 900 State St came to market at the end of the year for $18.3 million.

Industrial sales gained momentum through the year and yielded 15 sales in the second half. Sales late in the fourth quarter included the 11,922 sf Live Oak Dairy property at 901 N Milpas St in Santa Barbara, purchased by a local investor for $3.1 million, and the 11,086 sf property at 614-618 E Haley St, purchased by an owner-user for $2.885 million. Demand for CM and M-1 property remains very strong – arguably the most sought-after property type – but has met a limited inventory of fewer than 10 available properties on the South Coast for four straight years.

Looking ahead to 2018, aside from industrial property, there is a reasonably steady inventory coming to market for sale. Some sellers appear to be looking to stay ahead

of a potential economic downturn or rising interest rates, either of which could lower the value of their assets. On the other side, underlying demand will likely hold steady among both investors and owner-users and sustain sales activity, but there are factors expected to affect the market in 2018 and beyond. The full impact – both financial and psychological – of the Thomas Fire and subsequent mudslides on local investors and businesses remains to be seen, but it will certainly diminish demand among local buyers and depress property values to some degree near damaged areas. Meanwhile, the net effect of the new federal tax law on commercial real estate invest-ment is also unclear. On the positive side, the tax cuts will stimulate the economy, and the law has provisions that benefit many commercial real estate investors, which should also bolster demand. However, many economists expect the tax stimulus to place upward pressure on interest rates, and with the Fed already expected to raise rates three or four more times in 2018, the cumulative effect could inhibit real estate investment. Here on the South Coast, cap rates increased during the past year – partly in response to rising interest rates – and we expect that trend to persist.

OFFICE LEASING: Goleta resurgent

The Great Recession had a huge impact in Goleta, where the office vacancy rate more than doubled to nearly 14% in 2010. Several companies left the area, tech companies

To receive future Hayes Commercial Group reports electronically, please visit HayesCommercial.com and subscribe.

South Coast Sales

The 358-room Bacara Resort in Goleta was purchased for an estimated $244 million by two non-traded REITs in September.

http://www.hayescommercial.com




were increasingly staking out “creative” office space in Santa Barbara and Carpinteria, and it seemed that Goleta might be destined for chronic double-digit vacancy while losing its luster as a go-to location for tech, biotech and engineering offices. In 2017, major strides toward reversing that fate took shape as two of the area’s fastest growing start-ups moved from Santa Barbara to Goleta. In Q2, the biotech company Apeel Sciences moved from 9,673 sf near Milpas Street to 105,257 sf at 71 S Los Carneros Rd, subleasing space vacated by Allergan. Soon after, TrackR relocated from downtown Santa Barbara to 7410 Hollister Ave, leasing 39,000 sf there. Being in downtown Santa Barbara is a selling point for attracting young talent, but when it comes to retaining talent as employees seek to plant roots in the area, Goleta has a lot to offer, not least of which is new housing. All told, Goleta saw a 27% drop in available space during 2017, and the vacancy rate of 8.8% is the lowest year-end rate since 2007, with indications it will continue to decrease in coming months.

Santa Barbara’s office vacancy reached its highest level in five years at the end of 2017, as available space increased 32% during the year. Most of the added inventory is due to a handful of large spaces becoming available. Brownstein, Hyatt, Farber, Schreck’s 19,000 sf space at 820 State St came to market as the firm leased 13,508 sf on the second floor of 1021 Anacapa St, the former Santa Barbara Bank & Trust office building. Also newly available is 17,800 sf at 3820 State St, which Employbridge is

scheduled to vacate in 2018. The current rise in vacancy appears to be a normal market fluctuation involving large spaces rather than an underlying trend.

Co-working office space is a growing industry – estimated to encompass 30 million square feet nationwide – which is well represented in Santa Barbara. Co-working business-es typically cater to entrepreneurs and/or Millennials, providing an urban, open office environment with flexibility, convenience and networking baked in. Given the South Coast’s “Techtopia” business environment and relatively expensive office space, shared workspaces are a logical fit. Santa Barbara’s first co-working club, Workzones, just renewed its lease at 351 Paseo Nuevo while expanding into adjacent space for a total of 14,300 sf. The combined footprint of Workzones, Impact Hub, Regus, The Sandbox and Synergy is more than 56,000 sf, all located downtown and in the Funk Zone.

For Carpinteria, 2017 was the famine that followed the feast. After two years of unprecedented office leasing volume, gross absorption in 2017 was the lowest in at least 10 years. For one thing, Procore – the most rapidly expanding tenant in recent years – did not lease any office space in 2017. Forward momentum finally emerged at the end of the year as five of the year’s seven leases took place in Q4. Brown & Brown Insurance leased 8,736 sf at

South Coast Leases(all property types)

TrackR moved from downtown Santa Barbara to 7410 Hollister Ave, a 39,000 sf building in Goleta with creative office interiors.




1001 Mark Ave, a building purchased by a local investor last September. The vacancy rate is up around 6% as 6398 Cindy Ln and 1001 Mark Ave are in the process of re-tenanting with combined availability of 29,500 sf.

For all of its volatility, Carpinteria’s rents are unmistakably rising. Inflation-adjusted rents are higher on average now than before the recession, which cannot be said of rents in Santa Barbara or Goleta. The demand – and prestige – generated by Lynda.com/LinkedIn and Procore has been the most decisive factor in this appreciation.

For the coming year, we expect positive net absorption of space and decreasing vacancy in all three market cities. Santa Barbara’s larger available spaces may take longer to lease, so change there will likely be gradual. In Goleta, the future looks promising, with a number of tenants actively seeking space and deals currently in negotiation which could lower the vacancy rate to near 5% by midyear, a rate that would have seemed fantasti-cal just a year ago.

RETAIL LEASING: Three things you might not know about State Street

Looking outside of the State Street core, Santa Barbara retail leasing is in good shape. The former Macy’s building at Paseo Nuevo and the Saks Off 5th building represent 47% of available space in Santa Barbara. Excluding those two buildings, the Santa Barbara vacancy rate is 2.0%, which is typical historically. The challenge is that the city’s most visible and renowned retail area continues to struggle with high vacancy. The causes of State Street’s woes and suggested solutions were discussed and written about at length during 2017. Since we have covered those topics in previous reports, we take this opportunity to consider a few factors – and facts – about State Street that are generally overlooked.

One important factor to consider is the lowered demand from national retailers. During the recession, several low-price-point retailers (Marshall’s, H&M, 99 Cents Only) leased space on State Street. And that trend continues; in 2017, Miniso USA leased 6,148 sf (former

American Apparel) at 733 State St, and 7-Eleven leased half of the former Panera Bread space at 700 State St. With a few exceptions, mid- and high-price-point retailers have not been leasing space on State Street, despite five-plus years of improving consumer confi-dence. This is mainly due to the assessment – which our brokers have heard first-hand from national retailers – that State Street lacks the demographics to sustain the purchasing volume of a marquee retail location, and in the Amazon.com era retailers have become more selective about their locations.

A second factor to consider is rents. Many voices in the community have blamed State Street landlords for exacerbating vacancy by keeping rents unrealisti-cally high. The fact is, landlords have lowered rents. We surveyed all the leases on the prime 600 to 1000 blocks of State Street from the past two years and compared the new rent to the previous rent paid for the same space. On average, the new rent was 12% lower than the inflation-adjusted previous rent.

A final observation is that though vacancy is high along the retail corridor, most spaces are leasing in a reason-able time frame. Businesses are coming and going, but State Street is not stagnant. Of the 19 currently available spaces on the 300 to 1300 blocks, only four were available a year ago. Over that time, 24 leases were signed totaling 67,784 sf on that same stretch of State Street. Most of the spaces passed over by national

Institution Ale leased 516 State St on a stretch of State Street that will soon offer several craft beer destinations.




retailers are being leased by regional and local retailers and restaurants. To name a few examples, locally operated Blue Bee Apparel is back, this time at 619 State St; Seven Hills Turkish Imports has set up their bazaar at 1015 State St; and The Barbershop is open for business at 1233 State St.

Meanwhile, the new wave of craft breweries, already well established in the Funk Zone, is now bubbling up State Street, with Night Lizard Brewing’s opening imminent at 607 State St, Institution Ale coming to 516 State St, and Modern Times Beer reportedly headed to 418 State St.

Down by the waterfront, the Hotel Californian added three tenants with Melville Winery, McConnell’s Ice Cream, and Finney’s restaurant signing leases in 2017. One block up, the Corazon Cocina team leased the former American Ale space at 214 State St. Elsewhere in Santa Barbara, Islands burger restaurant will take over the Marmalade Café space in La Cumbre Plaza, and Renaud’s Patisserie and Empty Bowl Noodle Bar are opening new locations at 1187 Coast Village Rd.

Retail leasing in Goleta was relatively quiet with just 12 leases totaling about 28,000 sf, the lowest annual total since 2010. Nevertheless, the vacancy rate is still very low at 2.2%. The vacant 30,147 sf Sports Authority space at Camino Real Marketplace has been available for more than a year, despite several rumors of impending leases.

INDUSTRIAL LEASING: Conditions of scarcity

Santa Barbara’s industrial vacancy rate is the lowest on record at 0.28%, with just four spaces available at year-end. One of the availabilities is remodeled space at 333 E Haley St with an asking gross rent of $3.26 psf, which is positioned and priced for office, rather than industrial, tenants. The Vercal Building at 1 N Calle Cesar Chavez was the site of most of the year’s activity, where two new tenants, Abatex and Winning Makes, signed leases of 11,683 sf and 7,698 sf respectively, and

renewals were signed by MoveGreen, Andros Floor Design, and HG Data totaling 46,012 sf.

Goleta’s vacancy reached its highest rate in five years at 3.3%. The two largest leases of the year were at the former Channel Technologies property, 839-879 Ward Dr, where Gavial Holdings leased 26,467 sf and Sonatech secured 21,167 sf. Even after those leases, nearly half of the available space in Goleta is in the Channel Technologies project.

Carpinteria has record low inventory, with only one space available. Not surprisingly, given the lack of avail-ability, most of the leasing activity was renewals, and the total square footage leased was the lowest annual total since 2010. The difference is that in 2010, the vacancy rate was 13.8% and tenants were scarce. Demand is not the reason for the low absorption; supply is such that there is very little space to absorb. The single available space is 20,000 sf in the Tyco building at 550 Linden Ave.

The outlook for 2018 is continuing positive demand from a variety of industrial uses. While demand is strong, it is also discerning. Space in poor condition or in less desirable locations will take longer to lease. Nevertheless, we expect deal activity to rebound somewhat from the low level of 2017.

To receive future Hayes Commercial Group reports electronically, please visit HayesCommercial.com and subscribe.

Sonatech leased 21,167 sf at 879 Ward Dr in Goleta. Approximately 65,000 sf is still available in the project.

http://www.hayescommercial.com




2017 Commercial Sales of Note Highest Priced Properties For Sale

71 S Los Carneros Rd, Goleta$23,514,000

1000 Mark Ave, Carpinteria$16,953,000

600 Pine Ave Goleta Office/R&D • 83,479 sf $24,200,000

Cabrillo Business Park Goleta Land • 490,050 sf $21,508,112

1486 E Valley Rd Montecito Retail • 6,357 sf $19,315,100

900 State St SB Retail • 38,015 sf $18,300,000

301 Mentor Dr Goleta Office • 70,282 sf $14,500,000

624 State St SB Retail • 10,217 sf $9,400,00026 Castilian Dr, Goleta

$13,625,0003891 State St, Santa Barbara

$12,550,000

COMMERCIAL SALES

VACANCY TRENDS Change in Vacancy by Property Type since 2007 (entire South Coast)

2008 2009 2011 2013 2015 20172010 2012 2014 20162008 2009 2011 2013 2015 20172010 2012 2014 2016

Office: +74%

Retail: +40%(excl. Macy’s)

Retail: +93%(incl. Macy’s)

Industrial: -41%




Market

Santa Barbara

Goleta

Carpinteria

Totals

Available Change* Gross Absorption

Change* Asking Rate Change* Achieved Rate Change*

291,816 32.5% 379,402 13.5% $3.14 6.1% $2.68 0.9%

398,551 -26.5% 337,466 12.2% $1.92 5.5% $1.88 0.8%

38,421 159.1% 26,702 -79.2% $1.97 -13.9% $2.11 $0.06

728,788 -6.3% 743,570 -2.6% $2.41 12.1% $2.30 2.8%

* Since 1/1/2017. Average rate totals are weighted by square footage.* Since 1/1/2017. Average rate totals are weighted by square footage.* Since 1/1/2017. Average rate totals are weighted by square footage.* Since 1/1/2017. Average rate totals are weighted by square footage.* Since 1/1/2017. Average rate totals are weighted by square footage.* Since 1/1/2017. Average rate totals are weighted by square footage.* Since 1/1/2017. Average rate totals are weighted by square footage.

Office Vacancy vs. Achieved & Asking Rates

$ ps

f GR

Vaca

ncy

$1.50

$2.00

$2.50

$3.00

$3.50

2010 2011 2012 2013 2014 2015 2016 20170%

2%

4%

6%

8%

Santa Barbara

$ ps

f GR

Vaca

ncy

$1.00

$1.25

$1.50

$1.75

$2.00

2010 2011 2012 2013 2014 2015 2016 20175%

7%

9%

11%

13%

Goleta

$ ps

f GR

Vaca

ncy

$0.50

$1.00

$1.50

$2.00

$2.50

2010 2011 2012 2013 2014 2015 2016 20170%

5%

10%

15%

20%

CarpinteriaCarpinteria

Vacancy Rate Achieved RateAsking Rate

2017 Office Leases of Note Largest Available Spaces

71 S Los Carneros Rd, Goleta105,257 sf – Apeel Technology

7410 Hollister Ave, Goleta38,970 sf – TrackR

520 E Montecito St, Santa Barbara 25,560 sf – Tri Co. Regional Center

1021 Anacapa St, Santa Barbara13,508 sf – Brownstein, Hyatt, Farber

70 Castilian Dr, Goleta 86,246 sf in Castilian Tech Ctr

301 Mentor Dr, Goleta 68,463 sf in Mentor building

175 Cremona Dr, Goleta 39,220 sf KSI space

6300 Hollister Ave, Goleta 30,863 sf Wyatt space

5540 Ekwill St, Goleta 26,574 sf in Santa Barbara Tech Ctr

434 S Patterson Ave, Goleta 20,000 sf by Cottage Hospital

530 Chapala St, Santa Barbara 18,792 sf Sonos sublease

6398 Cindy Ln, Carpinteria 19,063 sf in Carpinteria Business Park

1020 State St, Santa Barbara 19,00 sf in Semler Building

OFFICE LEASING




Market

Santa Barbara

Goleta

Carpinteria

Totals



394,761 102.0% 120,265 -37.6% $4.61 5.7% $4.02 -4.2%

87,901 -3.8% 27,958 -21.5% $2.97 -7.6% $3.12 -13.6%

33,064 415.5% 5,460 -64.2% $3.11 -14.7% $2.58 -7.9%

515,726 75.9% 153,683 -36.9% $4.24 6.2% $3.81 -5.5%

* Since 1/1/2017. Average rate totals are weighted by square footage.* Since 1/1/2017. Average rate totals are weighted by square footage.* Since 1/1/2017. Average rate totals are weighted by square footage.* Since 1/1/2017. Average rate totals are weighted by square footage.* Since 1/1/2017. Average rate totals are weighted by square footage.* Since 1/1/2017. Average rate totals are weighted by square footage.* Since 1/1/2017. Average rate totals are weighted by square footage.* Since 1/1/2017. Average rate totals are weighted by square footage.* Since 1/1/2017. Average rate totals are weighted by square footage.* Since 1/1/2017. Average rate totals are weighted by square footage.

Retail Vacancy vs. Achieved & Asking Rates

$ ps

f GR

Vaca

ncy

$2.00

$2.50

$3.00

$3.50

$4.00

$4.50

$5.00

2010 2011 2012 2013 2014 2015 2016 20171.0%

1.5%

2.0%

2.5%

3.0%

3.5%

4.0%

Santa Barbara

$ ps

f GR

Vaca

ncy

$2.00

$2.25

$2.50

$2.75

$3.00

$3.25

$3.50

$3.75

2010 2011 2012 2013 2014 2015 2016 20171.0%

1.5%

2.0%

2.5%

3.0%

3.5%

4.0%

Goleta

$ ps

f GR

Vaca

ncy

$2.00

$2.25

$2.50

$2.75

$3.00

$3.25

$3.50

2010 2011 2012 2013 2014 2015 2016 20170%

2%

4%

6%

8%

10%

12%



2017 Retail Leases of Note Notable Available Spaces

319 Anacapa St, Santa Barbara8,534 sf – Hayashida & Associates

506 Chapala St, Santa Barbara5,250 sf – Data Hardware Depot

911.5 State St, Santa Barbara2,450 sf – Perfume Plus Outlet

802 State St, Santa Barbara1,302 sf – Just Play Music

Paseo Nuevo, Santa Barbara 141,000 sf former Macy’s

1001 State St, Santa Barbara 43,802 sf Saks Off 5th

7035 Marketplace Dr, Goleta 30,147 sf former Sports Authority

187 S Turnpike Rd, Santa Barbara 19,739 sf in Turnpike Shopping Center

Calle Real Shopping Center, Goleta 17,646 sf in The Californian

La Cumbre Plaza, Santa Barbara 16,053 sf various spaces

32 W Carrillo St 10,026 sf former Greyhound site

29 N Milpas St, Santa Barbara 10,008 sf former Trader Joe’s

915 State St, Santa Barbara 4,300 sf new construction

RETAIL LEASING




Market

Santa Barbara

Goleta

Carpinteria

Totals



13,500 -33.9% 158,478 44.8% $2.54 30.0% $1.48 -13.4%

138,333 56.0% 182,829 -28.0% $1.57 -2.1% $1.44 15.5%

20,000 -50.5% 74,302 -55.9% $1.40 64.7% $1.17 3.8%

171,833 14.9% 415,609 -21.9% $1.63 12.4% $1.41 7.8%

* Since 1/1/2017. Average rate totals are weighted by square footage.* Since 1/1/2017. Average rate totals are weighted by square footage.* Since 1/1/2017. Average rate totals are weighted by square footage.* Since 1/1/2017. Average rate totals are weighted by square footage.* Since 1/1/2017. Average rate totals are weighted by square footage.* Since 1/1/2017. Average rate totals are weighted by square footage.* Since 1/1/2017. Average rate totals are weighted by square footage.

Industrial Vacancy vs. Achieved & Asking Rates

$ ps

f GR

Vaca

ncy

$0.75

$1.00

$1.25

$1.50

$1.75

$2.00

$2.25

2010 2011 2012 2013 2014 2015 2016 20170%

0.5%

1.0%

1.5%

2.0%

2.5%

3.0%

Santa Barbara

$ ps

f GR

Vaca

ncy

$0.50

$0.75

$1.00

$1.25

$1.50

$1.75

$2.00

2010 2011 2012 2013 2014 2015 2016 20170%

2%

4%

6%

8%

10%

12%

Goleta

$ ps

f GR

Vaca

ncy

$0.50

$0.75

$1.00

$1.25

$1.50

$1.75

$2.00

2010 2011 2012 2013 2014 2015 2016 20170%

3%

6%

9%

12%

15%

18%



2017 Industrial Leases of Note Largest Available Spaces

1 N Calle Cesar Chavez, Santa Barbara34,320 sf – A-American Storage

869 Ward Dr, Goleta26,467 sf – Gavial Holdings

600 Ward Dr, C-E, Goleta17,600 sf – Next Energy Technologies

460 Ward Dr, Goleta13,532 sf – Arthrex

839-879 Ward Dr, Goleta 89,297 sf

30 S La Patera Ln, Goleta 23,000 sf

153 Castilian Dr, Goleta 22,001 sf

5756 Thornwood Dr, Goleta 20,794 sf

5511 Ekwill St, C, Santa Barbara 2,800 sf

550 Linden Ave, Carpinteria 20,000 sf

333 E Haley St, Santa Barbara 6,000 sf

6485 Calle Real, Goleta 5,024 sf

513 Laguna St, Santa Barbara 4,424 sf

INDUSTRIAL LEASING



Thank You!We wish to thank our clients for allowing us to serve you in 2017, which proved to be our most successful year to date! We look forward to helping you achieve (and exceed) your real estate goals in 2018 and beyond.

Experience. Integrity. Trust.SINCE 1993

Francois DeJohn805-898-4365

[email protected]. 01144570

Stephen Hayes805-898-4370


Greg Bartholomew805-898-4395


Christos Celmayster805-898-4388


Dylan Ward805-898-4392


Liam Murphy805-898-4385


Kristopher Roth805-898-4361


Michael Martz805-898-4363


Dan Moll805-898-4380


Greg Moss805-898-4382


Caitlin McCahill805-898-4374





SALES - LAST 12 MONTHS

SIGNIFICANT TRANSACTIONS BY HAYES COMMERCIAL GROUP

26 Castilian Dr Goleta Office/Industrial – 75,239 SF Listing Price: Off-Market Brokers: DeJohn, Hayes, Roth

19-31 E Canon Perdido St Santa Barbara Office/Retail – 18,129 SF Listing Price: $7,950,000 Brokers: Bartholomew, McCahill, Roth

2151 Alessandro Dr Ventura Office – 60,654 SF Listing Price: $6,900,000 Brokers: DeJohn, Hayes

1155 Eugenia Pl Carpinteria Office – 18,000 SF Listing Price: $6,500,000 Brokers: Bartholomew

506 Chapala St Santa Barbara Office/Retail – 9,900 SF Listing Price: $6,350,000 Brokers: DeJohn, Hayes, Roth

1001 Mark Ave Carpinteria Office – 19,131 SF Listing Price: $5,500,000 Brokers: Celmayster, DeJohn, Hayes

5799 Hollister Ave Goleta Retail – 9,000 SF Listing Price: $5,082,000 Brokers: DeJohn, Hayes

Bradley Village Santa Maria Land – 5 Acres Listing Price: $4,250,000 Brokers: Celmayster

225 E Carrillo St Santa Barbara Office – 7,704 SF Listing Price: $4,100,000 Brokers: DeJohn, McCahill, Roth

136 E Yanonali St Santa Barbara Land – 886 SF Listing Price: $3,650,000 Brokers: Roth

901 N Milpas St Santa Barbara Industrial/Office – 11,922 SF Listing Price: $3,500,000 Brokers: Celmayster, DeJohn, Hayes

320-322 E Cota St Santa Barbara Retail/Industrial – 3,288 SF Listing Price: $2,600,000 Brokers: Bartholomew, Ward

635 E Gutierrez St Santa Barbara Industrial – 7,534 SF Listing Price: $2,500,000 Brokers: Moll

138 N Crimea St Ventura Apartment – 8 Units Listing Price: $1,995,000 Brokers: Celmayster

18 N Milpas St Santa Barbara Land/Retail – 2,682 SF Listing Price: $1,975,000 Brokers: Celmayster

1514 Eucalyptus Hill Rd Santa Barbara Apartment – 6 Units Listing Price: $1,875,000 Brokers: Celmayster, DeJohn, Hayes

1231 Chino St Santa Barbara Res Income – 4 Units Listing Price: $1,695,000 Brokers: Celmayster

5590 Hollister Ave Goleta Land – 2,370 SF Listing Price: $1,475,000 Brokers: Moll

310 & 314 N L St Lompoc Apartment – 8 Units Listing Price: $1,400,000 Brokers: Celmayster

708 N Alisos St Santa Barbara Res Income – 2 Units Listing Price: $1,195,000 Brokers: Celmayster, DeJohn, Hayes

121 W De La Guerra St Santa Barbara Office – 1,942 SF Listing Price: $1,150,000 Brokers: DeJohn, Hayes, Roth

619-621 N La Cumbre Rd Santa Barbara Res Income – 4 Units Listing Price: $1,150,000 Brokers: Celmayster

835 E Canon Perdido St Santa Barbara Land/Industrial – 27,651 SF Listing Price: Off-Market Brokers: Martz, Roth

1351 Holiday Hill Rd Goleta Office/Industrial – 22,000 SF Listing Price: Off-Market Brokers: Celmayster, Roth

1209 State St Santa Barbara Retail – 5,900 SF Listing Price: Off-Market Brokers: Martz, Ward

892 Church St Ventura Res Income – 4 Units Listing Price: Off-Market Brokers: Celmayster, DeJohn

1216 State St Santa Barbara Office – 15,416 SF Listing Price: $10,500,000 Brokers: Bartholomew, Roth

800 State St Santa Barbara Retail/Office – 7,956 SF Listing Price: $8,600,000 Brokers: Bartholomew, DeJohn, Roth

71 S Los Carneros Rd Goleta Office/Industrial – 105,257 SF Listing Price: $28,000,000 Brokers: DeJohn, Hayes




SIGNIFICANT TRANSACTIONS BY HAYES COMMERCIAL GROUP

LEASES - LAST 12 MONTHS

71 S Los Carneros Rd Goleta Office/Industrial – 105,257 SF Apeel Technology, Inc Brokers: Celmayster, DeJohn, Hayes

869 Ward Dr Goleta Industrial – 26,467 SF Gavial Holdings, Inc Brokers: DeJohn, Hayes

520 E Montecito St Santa Barbara Office – 25,560 SF Tri Counties Regional Center Brokers: Bartholomew

879 Ward Dr Goleta Industrial – 21,167 SF Sonatech, LLC Brokers: DeJohn, Hayes

7408 Hollister Ave Goleta Office – 19,148 SF LogMeIn (GetGo, Inc.) Brokers: DeJohn, Hayes

130 Robin Hill Rd Goleta Office – 16,112 SF AECOM Brokers: Celmayster

505 Maple St Carpinteria Industrial – 15,985 SF Supersprings International, Inc. Brokers: Moll

351 Paseo Nuevo Santa Barbara Office – 14,300 SF Workzones SB, LLC Brokers: Bartholomew

1021 Anacapa St Santa Barbara Office – 13,508 SF Brownstein, Hyatt, Farber, Schreck Brokers: Bartholomew

1 N. Calle Cesar Chavez Santa Barbara Industrial – 13,458 SF HG Data Brokers: Martz, Roth

485 Pine Ave Goleta Office/Industrial – 12,624 SF SORAA Laser Diode, Inc Brokers: Bartholomew

6860 Cortona Dr Goleta Office/Industrial – 12,374 SF Habitat for Humanity Brokers: Bartholomew, Murphy

6750 Navigator Way Goleta Office – 11,961 SF Hewlett Packard Enterprise Brokers: DeJohn, Hayes

30 S La Patera Ln Goleta Industrial/Office – 10,467 SF AST, Inc Brokers: Ward

3780 State St Santa Barbara Office – 9,991 SF First American Title Brokers: DeJohn, Hayes

120 Cremona Dr Goleta Office – 9,691 SF Scalable Commerce, LLC Brokers: DeJohn, Hayes

1015 Cindy Ln Carpinteria Industrial – 9,626 SF 32 Bar Blues Brokers: Murphy

425 N Milpas St Santa Barbara Office/Industrial – 9,200 SF FEI EFA, Inc Brokers: DeJohn, Hayes

506 Chapala St Santa Barbara Retail/Office – 8,928 SF Data Hardware Depot, LP Brokers: DeJohn, Hayes, McCahill, Roth

27 E Cota St Santa Barbara Office – 8,000 SF Active Life Scientific, Inc. Brokers: Bartholomew, Murphy, Roth

99 Aero Camino Goleta Industrial – 7,500 SF Chipzco, Inc Brokers: Bartholomew, DeJohn, Hayes, Ward

200 E Carrillo St Santa Barbara Office – 7,457 SF Damitz, Brooks, Nightingale Brokers: Bartholomew

517 Maple St Carpinteria Industrial – 6,084 SF Rincon Catering Brokers: Moll

1023 State St Santa Barbara Retail – 3,770 SF The Camp Transformation Brokers: Martz, McCahill, Roth

911.5 State St Santa Barbara Retail – 2,450 SF Perfume Plus Outlet, Inc. Brokers: Martz, Roth, Ward

167 N Fairview Ave Goleta Retail – 2,400 SF Exclusive Wireless, Inc. Brokers: Martz, McCahill, Roth

7410 Hollister Ave Goleta Office – 38,970 SF TrackR, Inc Brokers: DeJohn, Hayes, Murphy

1001 Mark Ave Carpinteria Office – 8,736 SF Brown & Brown Insurance Brokers: DeJohn, Hayes

820 State St Santa Barbara Office – 20,666 SF LogicMonitor, Inc Brokers: DeJohn, Hayes, Martz

q42017 - hayescommercial.commillion with target teed up to lease the property. there are 14 retail...

Documents