Downtown Developments in SLO

Serving Santa Barbara, Ventura & San Luis Obispo Counties

September 01, 2017

Downtown San Luis Obispo on Fire

 

There have been a number of recent projects and development located in Downtown San Luis Obispo. Below are a few that we choose to point out:

3-Story Retail, Office, Restaurant project has been approved on the corner of Santa Rosa and Monterey in downtown San Luis Obispo.

Largest Residential Projects + City National Bank Economic Market Update

Focus on Ventura County’s biggest residential projects (plus City National Bank’s Market & Economic Update)!

There are numerous residential development projects planned throughout Ventura County. We have seen a significant increase in the planning of new senior residential communities, mixed-use facilities, and large and mid-scale residential development projects. Many of the current developments are ranging from 20-300 residential units in size, Camarillo with approximately seventeen, and Oxnard having approximately twenty-three of these sized projects.

Below we highlight the largest developments on the horizon, greater than 300 units.

Oxnard

California’s Newest Urban Village- Wagon Wheel Junction- Oxnard, CA

The 63-acre, $450 million Wagon Wheel Village project at Wagon Wheel and Hwy 101 will put about 1,500 housing units, including 120 affordable housing units, and 50,000 square feet of commercial space in the area. Full buildout will feature 559 Condos and 941 rental homes, with many built over retail which will feature unique restaurants and shop space. 

Santa Paula

East Area One Specific Plan- 1,500 Units

Phase One of the plan will include about 640 homes, several commercial buildings, a school for kindergartners through eighth-graders and at least part of a 38-acre community park with sports fields.

Moorpark

Three different projects totaling over 1,500 units outlined below

Carlsberg Specific Plan

500 acres in the southeastern portion of the Moorpark. The plan includes 534 single-family homes, consists of 40 acres for commercial use, 33 acres for office / business park use. There is a 29 acre school and seven acres for institutional use.

Moorpark Highlands

450 single-family residential lots and one multi-family neighborhood proposed for up to 102 units, on property located east of Walnut Canyon Road (SR-23). The project permanently preserves 169 acres of land in a Habitat Conservation Plan, providing open space that enhances the habitat within 94 of those acres, and provides multi-use trails for access to these areas by the public.

Hitch Ranch

A request is currently in process for a 281 acre specific plan that would include development of up to 620 dwelling units and three acres of institutional use, located north of the Union Pacific Railroad, west of Walnut Canyon Road (Highway 23), and generally east of Gabbert Road.

Additionally:

Earlier this week, Pam Scott and Al Segal were invited to attend the City National Bank’s luncheon given by Leo Hamil, along with Annemarie Cole, to see the economist Paul Single discuss the national market and economic forecast. We found it very interesting and informative. Attached below are copies of the reports.

Economic Perspectives

Market and Economic Update

If you would like more information about this topic, please contact Pamela Scott at (805) 560-0040 or email at pscott@gpscre.com.

For all our recent blog posts please visit www.gpscre.com/blog.

GPS IS GROWING

GPS is Growing!

 

New Agents Onboard

 

GPS Commercial Real Estate Services, Inc. is proudly expanding our operation with new agents’ ready to serve you!

 

Broker Allen Segal recently joined the GPS team this August. Mr. Segal is a leading industrial warehouse & investment expert. For more than 40 years, Al has carved out a niche as an expert in investment banking, securities, and commercial real estate brokerage and development.

 

 

Nicholas DeVito will soon be getting his Real Estate License in the Fall. Nick is extremely hard working and detail oriented. Nick intends to begin working for GPS  after graduating from UCSB next June.

 

 

“We put the client first”

 

If you would like more information about this topic, please contact Pamela Scott at (805) 560-0040 or email at pscott@gpscre.com.

 

For all our recent blog posts please visit www.gpscre.com/blog.

 

Al Segal Joins GPS Commercial Real Estate Services

Al Segal, former Lee & Associates broker, has recently joined Pam Scott of GPS Commercial Real Estate Services located in Santa Barbara. Mr. Segal is a leading industrial warehouse & investment expert. For more than 40 years, Al has carved out a niche as an expert in investment banking, securities, and commercial real estate brokerage and development. Mr. Segal started his brokerage career with The Klabin Company in 1973, and became one of their top brokers within a very short time. The Klabin Company, a boutique industrial firm, produced some of the top professionals in the industry. Prior to this time, Al trained on Wall Street as an investment banker with Smith, Barney & Company, and remained in the investment banking industry for more than a decade.

 

Renewal of Wells Fargo Bank | Pt. Hueneme, CA

Pam successfully renewed the Wells Fargo on Channel Islands Road in Port Hueneme, CA for another term. Wells has been a long-term occupant at this location in their 3,075-sf branch.

SOLD! Poppy Plaza | 1511 W Grand Ave | Grover Beach, CA

Closed is the off-market sale of the 11,173-square foot Poppy Plaza retail strip center in Grover Beach, CA.

 

SOLD! 2034 Cliff Drive | Santa Barbara, CA

Pam recently closed a high-identity, high-visibility, freestanding retail building at the hard corner of cliff and Camino Calma in front of Vons in the Mesa Shopping Center in Santa Barbara. Once a former bank facility that was retrofitted for an eye-care facility, it was purchased by a local investor. Asking price was $2,350,000.

NEW 7/11 Opening | 5342 Hollister Ave. | Goleta, CA

Across from Cottage Hospital near Patterson Avenue, will be 7-Eleven’s newest location. Come visit them next to P.J. Gladden & Son’s in their new 2,800 sf location.

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Stock Building Supply West, LLC ( BMC) and Smart & Final Make a Move

Ventura County: April 28, 2017

Stock Building Supply West, LLC – recently acquired by BMC, one of the nation’s leading providers of diversified building products and services to professional builders and contractors in the residential housing market, just signed a ten year sublease on 16,576 square feet of retail space at 2222 W Hillcrest Drive, in Thousand Oaks. This space was previously occupied by Smart & Final. The merger with Stock Building Supply and BMC resulted in the creation of a new company, BMC Stock Holdings, which together recorded a combined $2.6 billion last year. Smart & Final occupied that space for 22 years, opening in November of 1995.  Smart & Final meanwhile changed their concept from Smart & Final to Smart & Final Extra!, and with this growth, they required additional square footage moving across the freeway to the recently vacated Haagen store located at 2100 Newbury Park Road, in Newbury, California. Pamela Scott of GPS Commercial Real Estate Services, Inc., represented Smart & Final. Stock Building Supply also has other locations at 1160 E. Thompson Blvd. in Ventura and 2000 Tapo St. in Simi Valley.

 

 

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Land Sale and Development – Buellton, CA

Future Wine Tasting, Retail, and Music Venue Slated for Buellton

San Luis Obispo County – Buellton, CA April 20, 2017:

 

A long time area family recently listed and sold their 2.5 acres of land located near the corner of Avenue of the Flags and Highway 246 in Buellton with an asking price of $1,075,000.00. Pamela Scott, Principal and Broker of GPS Commercial Real Estate Services, Inc., executed the real estate transaction representing both seller and buyer. Scott indicated the buyer intends to develop a 5,000 square foot restaurant or brewery and another 10,000 square foot building with shops for wine tasting, food and retail. The buyer is also planning on adding food trucks to enhance the already festive atmosphere of the center. There will be a large communal entertainment area offering entertainment such as concerts and a play area for families. Construction should begin at the end of the 2017.