A leasehold interest was acquired in the 175,000-square-foot, three-story, vacant former Nordstrom space located at the Paseo Nuevo mixed-used shopping center in Downtown Santa Barbara. One of the most well-located and largest spaces available in Downtown Santa Barbara, the property is currently being repositioned into Class-A creative office to benefit from the amenity rich and highly walkable location. With little new deliveries of office product projected over the next five years, quality office space is currently in high demand as a growing number of tech companies relocate to the area. Santa Barbara is becoming a vibrant hub for tech and engineering businesses*, with top tier young talent coming from the University of California, Santa Barbara’s STEM research program, as well as the City’s highly educated population.
*For more information on Santa Barbara’s growing tech and engineering industry visit Noozhawk.com -https://www.noozhawk.com/downtown_santa_barbara_emerging_as_tech_hotbed_20190419/