Tuesday, May 26, 2009

New Gym Coming to State Street

A lease was recently inked for a new gym in the 500 block of State Street, taking over where such tenants as Santa Barbara Consignment and the RADD Thrift Store used to be.

They are leasing approximately 11,400 SF and it is a good sign that landlords and tenants are willing to work together to fill the holes that currently make up a good portion of State Street. Currently approximately 65% of all retail vacancy in Santa Barbara is located in the downtown blocks of State Street.

Before we get too excited about the return of retail, I do have to note that the empty space at 610 Anacapa Street that was to be a new jazz nightclub is back on the market for lease. This is an additional 10,000 SF of space that will be looking for a new tenant. The asking rate is $2.00/SF NNN but if the gym lease is any indicator, a deal will go down at a much lower price than that.

1 comment:

  1. hey nice source for us and i read the blog and this blog provide the good information and this thoughts and ideas of the real estate of the gym is the wonderful and i have to bookmark this blog.

     Gym Santa Barbara