Raytheon Building Changes Hands

The Goleta office building home to Raytheon sold for $26.4 million to real estate investor Victor Schaff, according to real estate giant The Towbes Group. The 120,000-square-foot property is made up of two office buildings and is located on 10 acres at 75 Coromar Drive. Towbes bought the structures in 2003, and Raytheon has leased the space for more than 50 years. Towbes president Craig Zimmerman said in a statement the purchase of the property was “a good investment opportunity” because it could yield strong annual cash flow and “support Goleta’s thriving business economy.” Raytheon’s lease lasts until 2019.