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August 11, 2020
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Montecito Bank & Trust Signs Office Expansion Lease in Goleta


Montecito Bank and Trust signed a new lease to expand their existing space at Storke Hollister Research Center in Goleta by 5.9k sf, bringing its total presence in the building to 18.5k sf. 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.

This transaction brings Storke Hollister Research Center, a 58.7k sf office/R&D building located at 6950 Hollister Ave, just south of the 101 Fwy at the intersection of Hollister Ave and Storke Rd, to fully leased. Built in 2000, the two-story, multi-tenant building features an onsite gym and is situated across the street from the shops and restaurants in the Camino Real Marketplace. Other notable tenants at the property include Spectra Fluidics, UC Education Abroad Program, and Lastline Inc.

The property is owned by Nassau Land Company L.P. and managed by Towbes Commercial Properties.
According to Towbes Group Vice President Traci Taitt, Storke Hollister continues to perform better than the immediate market as a whole. The region is currently experiencing an office vacancy rate in the 10 11 percent range, roughly double that of the lows the area experienced before the recession.

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