Montecito Bank Lease Brings Goleta Office Building to 100 Percent Occupancy

Building quality and customer service helps building outperform market.
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California - US

May 31, 2012 - PRLog -- SANTA BARBARA -- The 58,654 square-foot Storke Hollister Research Center in Goleta is now 100 percent leased, following a new lease  by Montecito Bank and Trust, announced Traci Taitt, Group Vice President for Towbes Commercial Properties, which manages the property for landlord Nassau Land Company, L.P.

Montecito Bank and Trust signed a new lease to expand their existing premises by 5,905 square feet bringing its total building presence to 18,511 square feet.   The locally owned bank, which serves consumers and businesses in Santa Barbara and Ventura Counties, recently opened its newest full service branch in January immediately adjacent to the Storke Hollister Research Center.

“To bring a multi-tenant office building to full occupancy is quite an accomplishment, especially in this economic environment,” said Taitt.   “While we’ve seen some improvement recently in the Goleta economy, office vacancy has been hovering around 10 to 11 percent, almost double that of the lows we experienced before the recession.  Storke Hollister continues to perform better than the market as a whole.  We attribute this to its exceptional quality and the customer service our tenants receive.”

Built in 2000, Storke Hollister Research Center is a two-story Class A office building offering 58,854 square feet of office and research and development space.  Storke Hollister Research Center, which features an onsite gym, is across the street from the shops and restaurants in the Camino Real Marketplace.   Other notable tenants include Spectra Fluidics, UC Education Abroad Program, and Lastline, Inc.

About the Towbes Group

The Towbes Group, Inc. is a fully integrated real estate investment, development and property management company.  Founded in 1960, the Santa Barbara, CA-based firm has developed more than two million square feet of commercial real estate and nearly 6,000 single family and multifamily units in the Tri-county area.  With more than two million square feet under management, the commercial properties division of The Towbes Group provides asset and property management for its own portfolio and third party clients.
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