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70,000-SF Building Sale Ranks Top in Market

GOLETA, CA-The sale of a 70,000-square-foot office building that was listed for $19.86 million is the largest in this market in the past five years in this week’s roundup of commercial real estate news in the West.

By Bob Howard | Updated on June 24, 2011

301 Mentor Rd.

GOLETA, CA-The sale of a 70,282-square-foot office building that was listed for $19.86 million is the largest in this market in the past five years in this week’s roundup of commercial real estate news in the West. An East Coast-based investment group acquired the building, which is at 301 Mentor Dr. and is a two-story structure that is fully leased by Mentor Worldwide and Tetra Tech. In terms of both price and size, this is the largest sale of a single office building in Goleta in the past five years, according to Francois DeJohn and Steve Hayes of Hayes Commercial Group, who represented all parties in the transaction. The property was built by Bermant Development Co. in 1999 on 5.3 acres near the intersection of Hollister and Patterson avenues. Since then, the entire building has been leased by Mentor Worldwide, a medical products company and subsidiary of Johnson & Johnson. Mentor has since subleased 12,000 square feet of the building to Tetra Tech, an engineering consulting firm.

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