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Santa Barbara, Calfornia - 10/07
Radius Group Completes One of Largest Solvang Office Deals of 2007
Radius Group Commercial Real Estate is pleased to announce the sale of a 17,000 square foot office building at 2029 Village Lane in Solvang. The property was purchased by Fionda, a company that provides direct-selling companies with high-tech communications products. The last listed sale price was $3,700,000. Brian Johnson of Radius Group represented Fionda in acquiring the property and Steve Brown and Austin Herlihy of Radius Group represented the seller, a local group of investors. In terms of purchase price and square footage, the sale of 2029 Village Lane is one of the largest office deals of 2007 in the Solvang market.
Located close to Santa Ynez Cottage Hospital, 2029 Village Lane is a modern office building featuring an internal atrium. Village Lane is the location of many of the professional buildings in the Solvang office market.
“Because the Solvang office market is small and relatively static, there simply aren’t very many buildings like 2029 Village Lane coming available,” said Brian Johnson, Sales Agent at Radius Group Commercial Real Estate. “Thus, it was the perfect opportunity for the buyer to make a real investment in their company’s growth while controlling costs by choosing a market where prices are much lower than the Santa Barbara market.”
“The sale of 2029 Village Lane was a win-win situation for both the buyer and the seller,” said Steve Brown, Co-Founding Partner at Radius Group. “The deal allowed the buyer to solve their occupancy problems and also gave the sellers the opportunity to sell their partially-occupied property at a market price that was agreeable to both parties.” | 
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