The 105,257 SF office/R&D building at 71 S Los Carneros Rd in Goleta has been purchased by a local investment team. Francois DeJohn and Steve Hayes of Hayes Commercial Group represented the seller in the transaction, which for both price and square footage is the South Coast’s largest commercial sale to date in 2017. The list price was $28 million.

Situated on 10.2 acres in the Campus Pointe project, the property offers a prime location where Los Carneros Road meets the US 101 freeway. The state-of-the-art facility is comprised of office, laboratory, and warehouse in roughly equal proportion, with dock-high loading and 30-foot ceilings in part of the building.

This is the third time DeJohn and Hayes have sold the property, representing the seller in each case. It was built by Raytheon in 1990 and was subsequently occupied by breast implant manufacturer McGhan/Allergan from 1999 to 2014, when Allergan left the area. Allergan recently subleased the entire building for the remainder of its term, which expires at the end of 2019.

“This property was designed from the ground up to be a true R&D facility on a large scale,” DeJohn said. “This building has the potential to be one of the turbines of Goleta’s engineering economy – the kind of place where great ideas become great products.”

In addition to closing the South Coast’s largest commercial sale to date in 2017, DeJohn and Hayes represent the sellers of the area’s three largest office properties currently for sale:

• 6303-6309 Carpinteria Ave, Carpinteria is a 121,230 SF office property listed for $44.5 million
• 7402-7412 Hollister Ave, Goleta is a 142,206 SF office/R&D property listed for $34 million
• 7414-7418 Hollister Ave, Goleta is a 162,174 SF office/R&D property listed unpriced

Photo credit: AeroOptix.com