The “owner-user” trend from 2012 has continued into this year, with many South Coast businesses buying properties for their own use. One notable example was the recent purchase of the freestanding office building at 810 E. Montecito St by Santa Barbara-based Rincon Technology, Inc.
Taking advantage of low interest rates and Small Business Administration (SBA) financing, Rincon Technology purchased the 3,430 sq. ft. property for its new headquarters. The building was completely remodeled in 2001 with custom finishes and improvements designed by local architect Peter Becker and industrial design and furniture provided by Pacific Office Interiors (POI) of Camarillo.
Jason Kelly and Michael Bartling founded Rincon Technology 10 years ago in Kelly’s garage. Since then it has grown into a successful multinational company with offices, warehouses and employees across the globe. However, keeping true to their local roots, the founders maintain their corporate headquarters in Santa Barbara. The company is in a period of tremendous expansion, as evidenced by top-line growth of more than 87 percent in 2012. Rincon Technology has led the way in its industry by developing innovative investment recovery programs that help large communication service providers save money and the environment.
“We have a longstanding relationship with Rincon Technology and were pleased to help them find a long-term home here in Santa Barbara to fit their growing business needs,” broker Kristopher Roth said. He, along with Francois DeJohn and Steve Hayes, also of Hayes Commercial, represented Rincon Technology in the sale.
DeJohn, Hayes and Roth helped 14 businesses on the South Coast become “owner-users” in 2012, and half of those utilized SBA loans to purchase commercial property.