Goleta Magazine 2018 - 22

Deckers Brands campus at Cabrillo Business Park.

Commercial Real Estate
Market outlook remains vibrant
Commercial sales slowed considerably in the first quarter of 2018, which is
not surprising given the physical, economic, and psychological impact of the
Thomas Fire and Montecito debris flow. The beginning of the year produced 13
commercial sales valued at $58 million, about half of the volume of the same
quarter last year.

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

Goleta's Camino Real Marketplace has some new tenants. HomeGoods will open
in August and Carlos Luna will launch Vincenta's Restaurant later this year.

8

Goleta Union School District

565

9

Jordano's

561

It is not clear yet whether the loss in momentum during Q1 was entirely due to
the disasters or if there may also be an underlying market deceleration at play.
After seven full years of economic recovery and five-plus years of sustained
commercial sales volume, a drop in activity is anticipated. However, Goleta
remains a vibrant commercial market with businesses who tend to stay in the
area as they expand.

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

Available commercial space in Goleta decreased 35% in the past 12 months,
ending Q1 with a rate of 7.6%, the lowest level in ten years.
There were only two industrial leases in Goleta in Q1, and the vacancy rate has
increased to 4.1%, the highest rate in nearly five years. A year ago there was one
space available over 20,000 square feet. Today there are five available, including
two at the Channel Technologies property on Ward Drive

Goleta is home to a majority
of the largest employers in
Santa Barbara County.
By Francois DeJohn,
Hayes Commercial Group

22

EMPLOYERS

GOLETA MAGAZINE

GoletaChamber.com

Data compiled by the Goleta Chamber of Commerce


http://www.GoletaChamber.com

Table of Contents for the Digital Edition of Goleta Magazine 2018

Contents
Goleta Magazine 2018 - 1
Goleta Magazine 2018 - 2
Goleta Magazine 2018 - Contents
Goleta Magazine 2018 - 4
Goleta Magazine 2018 - 5
Goleta Magazine 2018 - 6
Goleta Magazine 2018 - 7
Goleta Magazine 2018 - 8
Goleta Magazine 2018 - 9
Goleta Magazine 2018 - 10
Goleta Magazine 2018 - 11
Goleta Magazine 2018 - 12
Goleta Magazine 2018 - 13
Goleta Magazine 2018 - 14
Goleta Magazine 2018 - 15
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Goleta Magazine 2018 - 17
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Goleta Magazine 2018 - 20
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