Lee & Associates Arranges $2.5M Sale-Leaseback of Retail Property in California
SANTA BARBARA, CALIF. — Lee & Associates Santa Barbara has brokered the sale of a retail property located at 34 E. Montecito St. in Santa Barbara. Avis Rent A Car sold the property in a sale/leaseback transaction to 34 East Montecito 2016 LLC for $2.5 million, or $1,866.67 per square foot. Situated in the Funk Zone area of Santa Barbara, the property features 1,350 square feet of retail space.
Christi Vior of Lee & Associates Santa Barbara represented the buyer, while Rob Adams and Steve Leider, also of Lee & Associates, represented the seller in the deal.