Lee & Associates Transacts 44,000 SF Retail Sale in Santa Maria, CA
Private Local Investor to Renovate Property
SANTA MARIA, CA – May 14, 2014 – A 44,500-square-foot retail property at 3596 Skyway Drive in Santa Maria, CA has sold to a local private investor for $2.7 million, according to Matt Benwitt, an associate of Lee & Associates-LA North/Ventura, who represented the buyer with Jim Slaught of Lee’s Santa Barbara office.
The buyer, Santa Barbara Land Co. LLC, plans to renovate the property, which formerly housed an auto dealership. It is now mostly vacant.
“The location of this property, at the entrance to the Santa Maria Airport/Skyway Industrial Area, makes it a great redevelopment opportunity,” said Benwitt. “The buyer is currently exploring options including retail, restaurants or commercial uses and constructing new buildings.”
The property is located at a prominent, high-traffic intersection offering good visibility for occupants.
The seller, Esplanade Investment Partners LLC, was represented by Jerry Schmidt, Pat Palangi and Mike Kelly with Pacifica Commercial Realty, Santa Maria.