A landmark Santa Barbara commercial property has changed ownership. The prominent two-story building at the corner of State and Pedregosa Streets, most recently home to the Re/Max brokerage, was sold to an undisclosed buyer by the owners of the Re/Max franchise. Michael Martz of Hayes Commercial Group represented the buyer in the transaction.
This was one of nine commercial sales in Santa Barbara during the third quarter. There were 29 commercial sales in Santa Barbara during the first three quarters of 2010, more than double the number of sales compared to the same period of 2009.
Deal Type: Office Building Sale
Address: 1903 State St, Santa Barbara, CA
Size: 9,203 sf building on 16,500 sf lot
Sale Price: Undisclosed (List price: $3,475,000)
Seller: Harrison and Diana Bull
Buyer Broker: Michael Martz, Hayes Commercial Group