530 Chapala Street & 25 West Cota Street Listing Details & Market Data

This unique offering consists of two interconnected, newly constructed* buildings on separate parcels, at the busy corner of Cota and Chapala Streets in the heart of downtown Santa Barbara. The asset has recently undergone a $1.7 million, state-of-the-art buildout and is NNN-leased to Sonos (NASDAQ: SONO), and subleased to Honey Science (which was purchased by Paypal for $4 billion — see page 7 for details). Features include high ceilings, open floor plans, distinctive architecture, and a large rooftop patio with expansive views of the ocean, city and mountains. Each structure maintains its own building systems and APN. Formerly “Dal Pozzo Tires” and “The Hendry’s Building”, both Spanish Revival and Contemporary Industrial architecture have been incorporated to pay homage to the rich history of these buildings.

Occupancy: 100%

Master Tenant: Sonos (NASDAQ: SONO)

Subtenant: Honey Science Corp (PayPal announced a $4 billion acquisition of Honey)

NOI: Approximately $650,599

Lease Terms: NNN Lease

Site Area: 19,167 SF (APNs: 037-171-01 and 037-171-11)

Frontage: 100± ft along Chapala St, 200± ft along Cota St and 100± ft along Fig Ave

Floors: Two floors on Chapala and three floors on Cota

Year built: 2016 & 2017

Elevator: 25 W Cota St is elevator served

Zoning: M-C

Parking: 15 spaces total, 4 covered. Parking spaces available for rent in city-owned lots and several private lots nearby