Shopoff Realty has recently placed an 86,290 square-foot creative office building on the market in Goleta with an asking price of $29.5 million, or about $342 per square foot. Part of the Castilian Creative Campus, the office building is leased to AppFolio and joins a nearby 35,960 square-foot building that Shopoff has also recently listed for sale.
Located at 70 Castilian Drive, the property is being listed by Newmark and is fully leased to AppFolio through 2032. The property is part of Appfolio’s headquarters and joins the second Shopoff-owned building at 90 Castilian Drive, which was listed for $12.34 million, or about $343 per square foot. According to public records, the property was sold to Shopoff in January of 2021 by Montana Avenue Capital Partners as part of a larger $61 million sale that included the entire Castilian Creative Campus.
However, Appfolio is not the only tech company to occupy space in Goleta. The property management software company is located in one of Santa Barbara County’s fastest growing tech hubs, near companies like Google, Raytheon Technologies, Calient Technologies and more. Also nearby is the University of Southern California, Santa Barbara and the Santa Barbara Airport.
“The large and growing presence of tech tenants can be attributed to Santa Barbara’s ample supply of tech talent from UCSB, its recognition as one of the pioneers in quantum computing, as well as its high quality of life. The property is also ideally located adjacent to the 101 Freeway, allowing for quick access to the area’s abundant amenities as well as the Conejo Valley and northern Los Angeles County,” the offering memorandum states.
