Local investor acquires 106,000 SF office/R&D building in Goleta

GOLETA, CA – In the South Coast’s highest-value commercial sale to date in 2019, the 106,309 square-foot building on 6.9 acres at 6300 Hollister Ave in Goleta was just purchased by a local investor. Although the closing price was not released, the offering was listed for $35.5 million by Francois DeJohn and Steve Hayes of Hayes Commercial Group, representing the seller.

The facility is fully leased to three technology companies, all headquartered at the property: Wyatt Technology, Asylum Research (Oxford Instruments), and Seek Thermal. Wyatt Technology and Asylum Research have been tenants there for approximately 15 years. Seek Thermal moved into the building in 2018.

“This is a great example of a building being successfully updated to suit ‘creative’ office/R&D tenants,” DeJohn said. “The owners recently put about $2.5 million worth of improvements into the property, so that it could compete with any existing R&D space in the market and enable tenants to attract top talent.”

DeJohn and Hayes have completed the top five commercial sales to date on the South Coast, and their sales volume so far in 2019 exceeds $142 million.

“The South Coast has seen a dip in investor demand over the past year for small and mid-priced investments,” Hayes said. “But demand among investors seeking larger investments with stable income remains strong.”