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Tuesday, July 27, 2010

Large Commercial Real Estate Deal in Santa Barbara

Santa Barbara, California - Net Lease Properties has news today on Santa Barbara Commercial Real Estate. A 38,000 square foot building, housing a Borders Book Store, sold for $10 Million. Borders holds a long-term lease on the three-story building and there currently are no projections as to whether it will stay in the building after the lease expires.

This Commercial Real Estate with the long term lease in place with Borders is a beautiful building. This property is located at 900 State Street in Santa Barbara.

The Buyer was SIMA Real Estate Fund. Press releases mentioned SIMA bought the building from Radius Group Commercial Real Estate. SIMA also owns the current State Street locations for the Coach and Anthropologie retail stores.

This is the largest Commercial Real Estate deal in Santa Barbara in over two years.

Reports are that before the structure was transformed for retail use, it was used as a Bank of America building.

Commercial Real Estate Financing Still Available

If a Multifamily Apartment Complex or a Shopping Center is of interest to you then contact us, HERE. We can also assist you with your Commercial Real Estate Mortgage and Net Lease Funding to purchase a CVS, Walgreens, Wendys, Target, Publix or other property.

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