Multiprobe previously leased 819 Reddick St and 425 N. Milpas St. An unknown seller listed the buildings in an office/industrial sale for $3,950,000.
Using the Small Business Administration (SBA) financing, MultiProbe bought these properties for its use. Francois DeJohn and Stephen Hayes of Hayes Commercial Group represented MultiProbe in the transaction.

“This is a great example of how a company can leverage current lending conditions to become an owner-user,” said DeJohn. “SBA financing in combination with the current buyer’s marker can make commercial buildings very affordable.”

Financing has been scarce for real estate investors since the collapse of the banking sector in 2008. Ownerusers play a much larger role in the sales of Santa Barbara commercial property. The availability of SBA loans at low rates accelerated this trend.

“So far we are very happy with our decision and grateful to Hayes Commercial for making this happen,” said Andrew Erickson, president and CEO of MultiProbe.

Founded by Erickson in 2001, MultiProbe develops and manufactures nanoprobing tools for the semiconductor industry. MultiProbe manufactures the Atomic Force Nanoprober (AFP), an imaging and probing tool used in diagnostic testing of semiconductor electronics. MultiProbe contracts with Intel, IBM, Infineon and Toshiba.