Santa Barbara Asset Management is moving its headquarters from 200 E. Carrillo Street to a more central location at 820 State Street, on the fifth floor of the historic El Paseo office building. The firm leased 8,474 square feet, making it one of the 10 largest Santa Barbara office leases of 2010. Greg Bartholomew of Hayes Commercial Group represented SBAM, and Paul Gamberdella, Bob Tuler and Gene Deering of Radius Group and David K. Beerman, Broker represented the lessor, Ella Paseo, LLC.
“Santa Barbara Asset Management had been evaluating relocation options in downtown Santa Barbara for over a year,” said Greg Bartholomew of Hayes Commercial Group. “The owner of the El Paseo building agreed to modify the layout of the 5th floor and create a turn-key office space for Santa Barbara Asset Management.”
Paul Gamberdella of Radius Commercial Real Estate who acted as an agent for the property owner added, “The property owner understood and appreciated that Santa Barbara Asset Management is one of the top tenants in the downtown Santa Barbara area. As such the owner acted swiftly and deliberately to ensure that a mutually acceptable agreement could be reached by the parties.” Gamberdella added, “This deal makes all the sense in the world as it brings one of the top tenants in our downtown market to the top floor of one of the top buildings in downtown Santa Barbara.”
Santa Barbara Asset Management was founded in 1987 and is one of the leading investment firms in the area. The firm was acquired by Nuveen Investments in 2005 but maintains headquarters in Santa Barbara and, according to its website, delivers “innovative investment management solutions for individual investors and institutional clients.”