Trophy STNL | eCommerce, Fortune Top 10 Company | Santa Barbara, CA | Hiring 75,000 Workers
1001 State Street
Santa Barbara, CA 93101
New 10 Year Corporate Guaranteed Lease
Bldg. SF: +/- 48,564 SF (Three Stories)
Asking Price: $38,400,000
Year 1 Cap Rate *: 4.57%
10 Year Avg. Cap Rate: 5.02%
Lease Type: NNN
Lease Term: 09/01/2019 - 08/31/2029 (10 Years)
Built in Increases: Annually
Options: Two (2) Five (5) Year Options @ Fair Market Value
Ownership: Fee Simple (Land & Building)
Land SF: 42,689 SF (0.98 Acres)
APN's: 039-281-023, 024, 036
Zoning: C-2 (General Commercial)
Debt: Buyer may purchase all cash or bring new debt.
* Fiscal Year 7/1/20 - 6/30/21
- New 10 Year NNN Lease With One Of Strongest Companies In The World.
- Corporate Guarantee. The Guarantee Is Structured So The Entire 10 Years Of Initial Term is Guaranteed.
- Built in Annual Increases and a NNN Lease which allows for Property Management Fee Reimbursements Creates An Ease of Management Investment With Tremendous Rental Growth.
- Purchased Santa Barbara Based Tech Company Graphiq For Approx. $50 Million in 2017 & Invested In A $50 Million Series B Fund in Santa Barbara based Trackr To Strengthen Technology. 1001 State Street Will Serve as Headquarters For The Team, and is a crucial component enabling devices which make up 84% of the companies revenue.
- Company Invested Approximately $14,000,000 Into Building Improvements, Demonstrating A Long Term Commitment To The Asset.
- Main on Main Corner Location on Iconic State Street Within The Central Business & Retail District of Downtown Santa Barbara.
- Intersection Of State & Carrillo Street Is A Primary Entrance To Downtown Santa Barbara From The 101 Fwy.
- Downtown Santa Barbara Has Emerged As a Hub For Technology Companies Over The Past 12 Years Which Has Promoted Mixed Use Development & Instilled Economic Vitality To The Area.
- Over 70 technology companies call downtown home.
- Downtown offers a walkable, amenity rich environment for tech employees = lifestyle benefit.
- Sonos, LogicMonitor, Tapjoy, and Honey Science are the latest major additions to the burgeoning tech scene.
- One (1) Block From 458,000 SF Paseo Nuevo Mall ($20 Million Dollar Renovation By Pacific Retail Partners & J.P. Morgan Asset Management), An Iconic Downtown Santa Barbara Shopping Destination.
- The Neighboring Landmark Carrillo Building just underwent a $1 Million Dollar Mixed Use Renovation. The Turnkey Suites Are Now Leasing To Office, Retail, & Restaurant Users.
- Over $20,000,000 of Capital Upgrades Spent On Property Over Past 14 Months.
- Superstructure Is A Steel Reinforced Concrete Frame.
- Rare Private On Site Parking Field, Adjacent 154 Stall Public Lot + 1,197 Public Stalls Within 1 Block = Abundance of Convenient Parking Options.
- Unmistakable Building Identity With Timeless Highly Improved Architecture On Display Via 100 Feet Of Frontage On State Street & 200 Feet Of Frontage On Carrillo Street + Four (4) Entrances