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Fess Parker’s DoubleTree Resort Inn has a new name and management.
The iconic beachfront hotel on Cabrillo Boulevard has been newly renovated and rebranded as Hilton Santa Barbara Beachfront Resort.
All 360 guest rooms have been redone with ocean and sky-blue tones, driftwood inspired interiors, and private balconies or patios.
The hotel is jointly owned by Park Hotels & Resorts and the Fess Parker family.
“From its unbeatable location to legacy of exceptional service, Hilton Santa Barbara Beachfront Resort represents everything today’s travelers value,” said Joe Berger, executive vice president and president, Americas, Hilton. “With the renovations and repositioning of this resort, we are poised to redefine the guest experience for visitors to this top American destination.”
The Hilton Santa Barbara Beachfront Resort, 633 E. Cabrillo Blvd., also features locally sourced cuisine at The Roundhouse, offering all-day dining, and Rodney’s Grill, “where sustainable seafood and naturally raised meats are paired with the freshest seasonal ingredients,” according to a news release.
The Fess Parker Wine Tasting Room also offers a self-service wine dispensing system with wines of the Central Coast.
Macy’s, Saks and Marshall’s
The Thomas Fire and Montecito debris flow hurt commercial sales significantly during the first quarter of 2018, according to Hayes Commercial Group. In the first quarter there were 13 commercial sales, valued at $58 million, about half of the amount from the first quarter of the year prior.
Montecito was hit the hardest; no commercial properties were brought to market in the first quarter, but one sale was completed: 1101 Coast Village Road.
The building is occupied by Compass Realty, and was purchased in a 1031 exchange by an investor for $7.7 million, according to Hayes.
In addition, two prominent large retail properties sold in downtown Santa Barbara during the first quarter.
The vacant 135,000-square-foot Macy’s building at 701 State Street was purchased by the owners of Paseo Nuevo mall for $12 million.
According to Hayes, the new owners plan to transform the old Macy’s building into an entertainment-oriented retail and dining establishment, marketed as “destination retail.”
In addition, the Saks Off 5th building, 1001 State St., was purchased by a local investor for $18.5 million. Saks plans to depart the the spot in 2019.
Hayes, in its quarterly commercial real estate report, also said that the Marshalls building at 900 State St and the Urban Outfitters building at 624 State St are prominent downtown retail properties with national tenants that are trying to attract buyers.
Cannabis Driving Sales
The legalization of cannabis is having “a noticeable effect on real estate,” according to Hayes.
An owner-user purchased a 14.7-acre building at 3561 Foothill Road in Carpinteria for $9.9 million, and plans to use the facility as a grow house. The sale was 150 percent higher than the last time the building sold four year ago.
New Venture Challenge
The 8th Annual SBCC Scheinfeld Center New Venture Challenge takes place, Friday, April 27, at Santa Barbara City College.
The New Venture Challenge is broken down into a high school and a college tier.
Based on their business plans, 10 finalists will be chosen from each tier to pitch their concept at the event, Center New Venture Challenge. Local business executives, bankers, investors, and entrepreneurs will serve as judges at the event.
It takes place from 2 to 7 p.m. The collegiate pitch will run from 2 to 4 p.m. witih the winners announced at 4:20 p.m.
The high school portion will run from 4:45 p.m. to 6:45 p.m., with the winners announced at 7 p.m.
— Noozhawk staff writer Joshua Molina can be reached at jmolina@noozhawk.com. Follow Noozhawk on Twitter: @noozhawk, @NoozhawkNews and @NoozhawkBiz. Connect with Noozhawk on Facebook.
