SANTA BARBARA, Calif.—September 6, 2016—A retail property located at 123 Gray Avenue  in Santa Barbara, was purchased at a $1,515,000.

The Lee & Associates Santa Barbara team of Natalie Wagner & Clarice Clarke, represented the buyer, in the off-market purchase of the 1,300-square-foot property.

The Funk Zone 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,  Figueroa Mountain Brewery, Helena Bakery and a booming collection of wineries and tasting rooms. The site is also located near high-end home audio company headquarters, SONOS’, as well as the La Entrada Hotel project, a 114-room luxury hotel, nine fractional vacation units and 21,557 square feet of retail space, which is scheduled to open in summer 2017.