X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Commercial real estate transaction volumes have been on a slow decline in Santa Barbara since 2016, when 101 commercial properties traded hands. In 2016, the number fell to 97, and last year, transactions fell to a seven-year low of 81 transactions, according to research from Radius Commercial Real Estate Group. This year, only 15 properties traded hands—on par with quarter 1 2018 and below first quarter activity in both 2016 and 2017.

According to Paul Gamberdella of Radius, there are three main causes behind the trend. “The first is a widening gap between buyer and seller expectations regarding value,” Gamberdella, a principal with the firm, tells GlobeSt.com. “This relates mainly to straight investment sales where sellers are expecting the same lower cap rates that existed a few years ago, whereas buyers seem to be seeking higher returns under current market conditions.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Kelsi Maree Borland

Kelsi Maree Borland is a freelance writer and editor living in Los Angeles whose work has appeared in such publications as Travel + Leisure, Angeleno and Los Angeles Magazine.

More from this author

GlobeSt. NET LEASE 2020Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.