One of the South Coast’s most successful companies, Yardi Systems, continues to grow into the buildings surrounding its headquarters in Goleta. The software company just completed a lease for 15,563 sf of office space at 425 Pine Avenue in Goleta Business Park, a space previously occupied by Hispanic Business Publications. Greg Bartholomew, Francois DeJohn and Steve Hayes of Hayes Commercial Group represented all parties in the transaction.
Yardi Systems provides software solutions for the real estate industry. Founded in 1984, the privately-owned company has grown steadily and now has over 1,800 employees in 22 offices worldwide, including nearly 400 employees in Goleta. In addition to the 60,000 sf corporate headquarters at 430 S. Fairview Avenue, the company occupies approximately 20,000 sf at 490 South Fairview, 18,000 sf at 420 S. Fairview, and now it is adding 15,000 sf at 425 Pine Avenue, which is also adjacent to the headquarters.
“Yardi Systems is a growing company, and the space at 425 Pine was a good fit given its proximity to their headquarters,” Hayes Commercial partner Greg Bartholomew said. “This lease was part of a healthy first quarter for office leasing in Goleta, which reduced the vacancy rate by a factor of 10% since the beginning of the year.”
According to Hoovers.com, “Yardi Systems provides property and asset management software for clients in the real estate industry, ranging from small property managers to multinational corporations with holdings around the world. Yardi also serves corporate and government clients. The company’s software includes tools for budgeting and forecasting, construction, scheduling, and maintenance, with specific offerings geared towards management of multifamily rental properties, commercial real estate, public housing, and senior housing.”
Building on nearly three decades of success in the commercial and multifamily real estate sectors, Yardi made substantial moves into residential real estate in 2010, acquiring two companies specializing in residential real estate data collection and distribution.
Deal Type: Office Lease
Address: 425 Pine Ave, Goleta
Square Feet: 15,563 sf
Lessee: Yardi Systems, Inc.
Lessee Information: www.yardi.com
Lessor: Goleta Business Park
Broker: Greg Bartholomew, Francois DeJohn and Steve Hayes, Hayes Commercial Group