Some Hope Rising On State Street

The status of businesses on State Street is an ongoing   concern, but it should be remembered that it’s been that way for many years.

According to a recent survey, 26 vacant storefronts can be found on State Street, from Sola Street to Highway 101.

However, Lee & Associates reports 23 of those spaces are “actively being marketed for lease.”

Lee said, “Despite the sometimes ‘doom and gloom’ outlook, there is a good amount of activity happening on Santa Barbara’s main street (and downtown).”

The Urban Outfitters building at 624 State St. just came on the market for $9.4 million, as well as the El Centro Building at 21 E. Canon Perdido St. for $7.95 million, according to the report.

Impact Hub’s Satellite wine bar, café and wine tasting classroom will be opening perhaps just in time for the Summer Solstice Parade. It will serve the members of the Impact Hub, 1117 State St., and the general public.

Waxing Poetic, 1108 State St., plans to move  to the Funk Zone and occupy the former Guitar Bar space.

Basil’s Italian restaurant will occupy the space next to Antioch University, 608 Anacapa St.

After 29 years, Bucatini Restaurant space, at the corner of State and Haley streets, has been leased to an unknown company, according to the property owner.

Data Hardware Depot has leased a third of the available space at 506 Chapala St. Rudy’s Mexican Restaurant will be taking over the old Julienne space, 138 E. Canon Perdido St.

No word on the vacant three-story Macy’s building at Paseo Nuevo. However, two nearby smaller retailers are fleeing State Street, Payless shoe store has a going out of business sign on its window at  627 State St.  And, Sketchers, 623 ½ State St., moved recently to Paseo Nuevo Mall.

Elsewhere, The Barbershop opened recently At 1233 State St.; the Perfume Gallery opened at 911 1/2 State st.; MAC Cosmetics  moved 819 State St.’; and Goa Taco took over 718 State St.

Coming soon, according to Lee, the Sportsman Lounge relocating from Figueroa Street to 1226 State St.; Logic Monitor plans to move to 820 State St.; and Just Play Music is moving to 802 State St.

The largest retail space on  State Street is Saks Off 5th with more than 48,000 square feet. The smallest is vacant at 935 State St. with 1,560  square feet. The median size along the county’s most famous commercial corridor is 3,300 square feet. The average triple net lease is $4.19 per square foot, according to Lee.

Lee reports several businesses are still searching for Funk Zone space, but availability remains low.

Although its owner touted that he would open the Hotel Californian in May, it still looks like it has a way to go.

“It will be a huge benefit to the lower State Street area, opening 120 rooms and adding restaurants and retailers,” Lee reports.

The full report is available at https://www.lee-associates.com/centralcoast/

Leave a Reply

Your email address will not be published. Required fields are marked *