GOLETA — A three-building industrial campus in Goleta was recently purchased in an off-market transaction by Majestic Asset Management, an property investment and development company based in Agoura Hills.
The building, which is located on the corner of Los Carneros Road and Castilian Drive, boasts more than 66,000 square feet of office space. The building has had multiple tenants over the years, including Resonant Wireless, Rock West Composites, InTouch Health and UCSB, among others.
The closing price for the sale of the building to Majestic Asset Management was not disclosed. Greg Bartholomew, Francois DeJohn and Steve Hayes of Hayes Commercial Group represented the seller in the transaction. Mr. DeJohn and Mr. Hayes also represented the buyer.
“Majestic has become a real force in South Coast commercial real estate in recent years, particularly in Goleta,” Mr. DeJohn said in a statement. “They have an impressive track record of adding value to properties, and they have contributed directly to Goleta’s recovery from double-digit office vacancy.”
An investment team from The Towbes Group owned the property since it was built in 1997 through the time of this sale.
The adjacent campus owned by Towbes on Castilian Drive was sold in 2019, and proceeds from the previous sale and this most recent sale have been passed on to local beneficiaries and local charities, according to a news release.
— Madison Hirneisen