$10M State Street Borders deal is a bright spot in a dull market
The $10 million sale of 900 State St. in Santa Barbara makes for the largest retail real estate deal in the city in more than two years, but the outlook for the South Coast’s commercial real estate market remains shaky. The 38,000-square-foot retail space where Borders bookstore is housed was sold on April 5 to Read More →
Novel plan may speed green building
A new way of financing energy efficiency upgrades in buildings is gathering steam across Santa Barbara County and headed for a vote by supervisors on April 13. Called emPowerSBC, the program allows property owners to borrow money from a funding pool set up by the county, install upgrades such as solar and pay off the Read More →
Hotel could change hands
The 135-room Country Inn & Suites in Port Hueneme might change hands soon as its owners face foreclosure on $53.2 million in debt. The loan dispute is between two obscure partnerships that ultimately lead to the Royal Bank of Scotland and Credit Suisse, two of the largest investment banks in the world. It also represents Read More →
Tri-county tech stocks make market moves
Ventura County tech companies inked big sales, swung back to profits and traded at heavy volumes in early April. Oxnard-based CalAmp Corp., a communications gear firm, signed contracts for $15.2 million in new wireless networks sales, sending shares up. After paring itself down to basics and tightening its manufacturing to deal with heavy losses, Camarillo-based Read More →
When the going gets tough
When the going gets tough, the tough get going. Kelly Magne knows that as she watches the clock and sips on a soda. Every day at four o’clock, the president and chief executive officer of Jensen Audio Visual clears her late afternoon schedule for her most important appointment: visiting her husband. Since January, Magne has Read More →
Another LAX flight
United Airlines added a sixth flight from San Luis Obispo Regional Airport to Los Angeles. The flight will be in a 30-seat Embraer 120 turboprop similar to those currently used to service LAX and San Francisco, the airport said. It will be operated by United’s regional partner SkyWest Airlines and will depart at 2:23 p.m. Read More →
Wal-Mart revises plans
Wal-Mart has submitted a scaled-down revision for its plans to build a supercenter store in Atascadero, the Tribune reported. The retail giant now proposes a 123,112-square-foot retail and grocery building, including a pharmacy, although it will no longer be a drive-through, and a 6,448-square-foot outdoor garden center, the newspaper reported. A tire and lube express Read More →
