Listings | Radius Commercial Real Estate

Santa Barbara South Coast Commercial Real Estate Stats – Q3 2024

Commercial Real Estate Sales: 18 (vs 17 in Q2 2024)
Largest Commercial Sale: $16,700,000 (2300 Garden St.)
Sales Volume: $61.3 Million (vs $37.1 Million in Q2 2024)

Santa Barbara Q3 2024 Vacancy Rates

Office 11.0% (vs 10.8% in Q2 2024)
Industrial 1.1% (vs 1.4% in Q2 2024)
Retail 3.0% (vs 2.6% in Q2 2024)

Q3 Quarterly Absorption (SF)

Office 62,700 (vs 70,600 in Q2 2024)
Industrial 1,500 (vs 6,700 in Q2 2024)
Retail 21,900 (vs 24,600 in Q2 2024)

Average Gross Asking Rates / SF

Office $3.13 (vs $3.15 in Q2 2024)
Industrial $2.36 (vs $2.94 in Q2 2024)
Retail $4.25 (vs $4.22 in Q2 2024)

View the Full Santa Barbara CRE Report

Santa Barbara Economic and Demographic Info & Stats

Santa Barbara’s economy primarily comes from tourism, but there are also other industries in the area, such as: agriculture, health care, education, government, tech and manufacturing.

Primary employers in the area are UCSB, Vandenberg Space Force Base, Santa Barbara city and county governments, Santa Barbara Cottage Hospital, and Chumash Casino Resort.