Goleta Magazine 2017 - 22

Commercial Real Estate
Steady growth indicates a vibrant commercial market
Goleta has seen a fair amount of growth over the last year with multiple
residential and hotel developments under construction simultaneously.
Commercial sales activity was modest with just 16 sales, compared to 35 the
previous year. And there was only one sale of note in the second half of the year:
Direct Relief International purchased 14.5 acres at 6100 Hollister Avenue from
the City of Santa Barbara.
Goleta's retail makeup is less weighted toward soft goods, where food use and
daily needs tenants are more prominent and less affected by the growth in online
shopping. Goleta's vacancy rate has remained low-currently 2.3%-and most of
its neighborhood centers are stable with little availability.
Goleta had a surprising number of large leases in 2016, generating record gross
absorption that was 45% above the prior 5-year average. In addition to leases by
Sunniva Holdings and InTouch Health, Pacific Design Technologies' lease at 6300
Lindmar Drive was the year's largest.
Looking ahead, strong demand is likely to keep sales activity at a high level in the
near term. Farther down the road, anticipated increases in interest rates and
limited inventory are expected to place a drag on market velocity.
Pictured above: InTouch Health Celebrated a ribbon cutting for their new corporate
headquarters and Innovation Center located in Goleta on January 31, 2017.

Goleta is home to a majority
of the largest employers in
Santa Barbara County.

GOLETA MAGAZINE

RANK GOLETA COAST EMPLOYER

EMPLOYEES

1

UCSB

6,268

2

County of Santa Barbara

3,928

3

Raytheon

1,150

4

Sansum Clinic

1,020

5

Tecolote Research

609

6

LogMeIn

600

7

Bacara Resort and Spa

600

8

Goleta Union School District

565

9

Jordano's

561

10

Yardi Systems

535

11

Deckers Outdoor

476

12

FLIR Commercial Vision Systems

450

13

AppFolio

400

14

Goleta Valley Cottage Hospital

348

15

KARL STORZ Imaging

350

16

Marborg Industries

307

17

Curvature

315

18

Medtronic

250

19

Devereux

200

20

Inogen

180

Data compiled by the Goleta Chamber of Commerce

By Francois DeJohn,
Hayes Commercial Group

22

EMPLOYERS

GoletaChamber.com


http://www.GoletaChamber.com

Table of Contents for the Digital Edition of Goleta Magazine 2017

Contents
Goleta Magazine 2017 - 1
Goleta Magazine 2017 - 2
Goleta Magazine 2017 - Contents
Goleta Magazine 2017 - 4
Goleta Magazine 2017 - 5
Goleta Magazine 2017 - 6
Goleta Magazine 2017 - 7
Goleta Magazine 2017 - 8
Goleta Magazine 2017 - 9
Goleta Magazine 2017 - 10
Goleta Magazine 2017 - 11
Goleta Magazine 2017 - 12
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Goleta Magazine 2017 - 15
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Goleta Magazine 2017 - 22
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