{"id":705,"date":"2017-01-30T11:31:12","date_gmt":"2017-01-30T19:31:12","guid":{"rendered":"https:\/\/www.lee-associates.com\/centralcoast\/?p=705"},"modified":"2017-01-30T11:31:12","modified_gmt":"2017-01-30T19:31:12","slug":"lee-associate-santa-barbara-completes-7-2m-restaurant-sale","status":"publish","type":"post","link":"https:\/\/www.lee-associates.com\/centralca\/2017\/01\/30\/lee-associate-santa-barbara-completes-7-2m-restaurant-sale\/","title":{"rendered":"Lee & Associate Santa Barbara Completes $7.2M Restaurant Sale"},"content":{"rendered":"

SANTA BARBARA,\u00a0 Calif.\u2014January 30, 2017\u2014The Santa Barbara<\/strong> office of Lee & Associates, the largest broker-owned commercial real estate in North America, has negotiated a $7.2 million<\/strong> transaction for a\u00a0 9,526-square-foot restaurant, including a 12,000-square-foot beachfront lot at 29 E. Cabrillo Street, Santa Barbara.<\/p>\n

Stephen Leider<\/strong>\u00a0of Lee & Associates Santa Barbara, along with Mark Mattingly of Pacifica Commercial Realty, represented the seller, The Phyllis Ormonde Trust.<\/p>\n

\u201cThe buyer owns adjacent parcels to the property, and is planning a major renovation to the outdated restaurant building and will re-tenant with a new restaurant establishment,\u201d said Leider.<\/p>\n

The Property, which has no tenants, is in a prime beachfront location near popular tourist sites including Stearns Wharf<\/a>,<\/strong> State Street<\/strong><\/a> and the up- and-coming Funk Zone<\/strong><\/a> area.\u00a0<\/a><\/p>\n

The Funk Zone<\/strong> <\/a>area offers a diversified tenant mix of wineries, art galleries, eclectic restaurant and bars, that continues to attract businesses eager to be in the area. The recently revitalized zone is home to popular restaurants including The Lark, Les Marchands Wine Bar and Merchant, Lama Dog, \u00a0Figueroa Mountain Brewery, Helena Bakery and a booming collection of wineries and tasting rooms.<\/p>\n","protected":false},"excerpt":{"rendered":"

SANTA BARBARA,\u00a0 Calif.\u2014January 30, 2017\u2014The Santa Barbara office of Lee & Associates, the largest broker-owned commercial real estate in North America, has negotiated a $7.2 million transaction for a\u00a0 9,526-square-foot restaurant, including a 12,000-square-foot beachfront lot at 29 E. Cabrillo Street, Santa Barbara. Stephen Leider\u00a0of Lee & Associates Santa Barbara, along with Mark Mattingly of Pacifica Commercial Realty, represented the seller, The Phyllis Ormonde Trust. \u201cThe buyer owns adjacent parcels to the property, and is…<\/p>\n","protected":false},"author":217,"featured_media":714,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19,23],"tags":[],"class_list":["post-705","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-transactions"],"yoast_head":"\nLee & Associate Santa Barbara Completes $7.2M Restaurant Sale - Lee & Associates | Central California<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.lee-associates.com\/centralca\/2017\/01\/30\/lee-associate-santa-barbara-completes-7-2m-restaurant-sale\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lee & Associate Santa Barbara Completes $7.2M Restaurant Sale\" \/>\n<meta property=\"og:description\" content=\"SANTA BARBARA,\u00a0 Calif.\u2014January 30, 2017\u2014The Santa Barbara office of Lee & Associates, the largest broker-owned commercial real estate in North America, has negotiated a $7.2 million transaction for a\u00a0 9,526-square-foot restaurant, including a 12,000-square-foot beachfront lot at 29 E. Cabrillo Street, Santa Barbara. 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