Heard It Through The Grapevine
A wine-drenched game of musical chairs is happening in Santa Barbara. Try to follow this – Pali Wine Co just purchased 205 Anacapa Street in the Funk Zone and will replace Oreana Winery in the near future. Due to the investor purchase of three adjacent properties in the Funk Zone earlier this year, Santa Barbara Winery and Lafond Winery are both moving out. SB Winery will relocate down the street to 28 Anacapa St (previously Kunin Wines) while Lafond Winery is said to be in the market. Kunin Wines is joining their sister winery, The Valley Project, at 116 E Yanonali Street, next door to the current Pali space. Confused yet? Across town, Wine Therapy has closed its State Street location but fear not – it will promptly reopen in the back of its sister restaurant, The Cruisery at 12 W Haley Street. We recommend everyone take Saturday to stop by each spot to familiarize yourself to each location 🙂
Owner-users, unlike investors, purchase properties for their own use. The current low interest rate environment and favorable lending options has many owner-users taking advantage of the opportunity to purchase real estate. The Pali purchase mentioned above was just one of three properties sold in the Funk Zone to users in past 30 days. In Goleta, a long-time tenant in 25 Carlo Drive bought their building to continue their chiropractic business; 1002 Anacapa St was purchased by Ocean Hills Church and; 29 W Anapamu Street sold to a local unnamed school.
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