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Business

Yardi Systems Continues Expansion in Goleta

Software company leases an additional 15,000-square-foot space in the Goleta Business Park

Yardi Systems continues to grow into the buildings surrounding its headquarters in Goleta.

The software company has completed a lease for 15,563 square feet of office space at 425 Pine Ave. in Goleta Business Park, a space previously occupied by Hispanic Business Publications.

Greg Bartholomew, Francois DeJohn and Steve Hayes of Hayes Commercial Group represented all parties in the transaction.

Yardi Systems provides software solutions for the real estate industry. Founded in 1984, the privately owned company has grown steadily and now has more than 1,800 employees in 22 offices worldwide, including nearly 400 employees in Goleta.

In addition to the 60,000-square-foot corporate headquarters at 430 S. Fairview Ave., the company occupies about 20,000 square feet at 490 S. Fairview Ave. and 18,000 square feet at 420 S. Fairview Ave., and now it’s adding 15,000 square feet at 425 Pine Ave., which is also adjacent to the headquarters.

“Yardi Systems is a growing company, and the space at 425 Pine was a good fit given its proximity to their headquarters,” Bartholomew said. “This lease was part of a healthy first quarter for office leasing in Goleta, which reduced the vacancy rate by a factor of 10 percent since the beginning of the year.”

Building on nearly three decades of success in the commercial and multifamily real estate sectors, Yardi made substantial moves into residential real estate in 2010, acquiring two companies specializing in residential real estate data collection and distribution.

— Ted Hoagland is the marketing manager for Hayes Commercial Group.

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