Radius Group Commercial Real Estate has announced the leasing of 5,832 square feet of retail space at 820 State St. to G by Guess.
Paul Gamberdella and Bob Tuler of Radius Group along with the property owner’s asset manager, David Beerman, represented the lessor. Gene Deering of Radius Group represented G by Guess.
It was the largest retail lease completed by a national tenant in downtown Santa Barbara since December 2008.
“Through our marketing efforts, we were able to attract offers from multiple national tenants interested in leasing this property. Even in today’s soft retail market, high-quality buildings in prominent locations in downtown Santa Barbara continue to attract attention from quality tenants,” Gamberdella said. “Having G by Guess in this location will undoubtedly increase retail foot traffic on the 800 block of State Street. Hopefully this deal will signal a resurgence of the retail sector in the downtown corridor.”
Deering said G by Guess has about 44 locations nationwide and is in the process of expanding.
“Many factors attracted G by Guess to 820 State St.,” he said. “In addition to the building’s location and prominence, the space boasts 79 feet of retail frontage along the prized 800 block of State Street, which is extremely rare for a space of this size. The recent extensive upgrades to the building’s infrastructure were also attractive to G by Guess, who will be completing extensive interior renovations.”
G by Guess is expected to be open by June 1.