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2/05/15
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Pacific Beverage recently paid $10.6 mil for seven acres of land at Cabrillo Business Park in Santa Barbara County on which the company is planning to build a 102k sf regional distribution center. The company distributes premium Anheuser-Busch beers and dozens of popular imports, crafts and soft drinks to customers from Ventura County to southern Monterey County.
With the Pacific Beverage transaction, nearly 50 acres of sales have closed at Cabrillo Business during the past five years, leaving only 15 acres of land available. The 92-acre park, located at Hollister Ave and Los Carneros Rd, is owned and being developed by Sares*Regis Group (SRG).
Located just off U.S. Route 101 and contiguous with the University of California, Santa Barbara and Santa Barbara Airport, Cabrillo Business Park is the most amenity-rich business park between Los Angeles and San Jose, and offers the only entitled and improved land on the south coast that is not subject to the Goleta Water District moratorium, according to Steve Fedde, senior vice president in SRG’s Ventura Region.
All project improvements will be complete by this spring, including major streets, backbone utilities and bike paths. The restored wetlands, open space, sports courts and walking trails account for a significant portion of the 42 acres in Cabrillo Business Park’s landscaped outdoor amenity package.
Companies with facilities there include Deckers Brands, FLIR Systems, Texas Instruments and Hewlett Packard. UCSB and U.S. Department of Agriculture also have acquired land or occupy space.
Based in Santa Barbara, Pacific Beverage is a division of family-owned Jordano’s Inc, which this year is celebrating its 100th year in business. The company’s new building will be among four distribution facilities serving customers “up and down the 227-mile Central California Coast.”
The company plans to break ground for the facility in 2016. When complete, Pacific Beverage will move to Cabrillo Business Park from its current Goleta location, freeing up space for Jordano’s food distribution operations to grow and continue their long tradition of service to south coast residents. Pacific Beverage also has distribution facilities in Oxnard, Santa Maria and Santa Margarita. Pacific Beverage was represented in the transaction by Mark Mattingly of Pacifica Commercial Realty.
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