2016 Pacifica Paso Robles Commercial Real Estate Market Report

This week Pacifica Commercial Real Estate, a Paso Robles commercial real estate company, released their 2016 annual report detailing the properties they sold and leased throughout the year on the Central Coast. The company facilitated $33,000,000 in property sales during the year and leased multiple commercial spaces and complexes to local businesses.

“2016 was a banner year for Pacifica Commercial Realty,” says Paul Shannon, Associate Principal. “Sales were back to pre-recession prices and inventory was moving again. Pacifica recorded the largest transaction in the Paso Robles office history with 1650 Ramada as well as a major shopping center in Templeton to cap off a fantastic year.”

Below is a summary of some highlighted sales and leases Pacifica Commercial Real Estate facilitated during 2016:

2016 Paso Robles Commercial Sales:

  • Industrial building located at 1650 Ramada Drive in Paso Robles, CA totaling approximately 220,000 square feet sold for over $10,000,000.
  • Office and retail building with a three acre lot located at 2727 & 2725 Buena Vista Drive in Paso Robles, CA totaling approximately 20,784 square feet sold for $3,450,000.
  • Vineyard Center located on Vineyard Drive in Templeton, CA sold for $7,750,000.
  • Restaurant space located on 12th Street in Paso Robles, CA sold for $1,250,000.
  • Commercial retail building located at 7600 El Camino Real in Atascadero, CA is approximately 11,864 square feet and sold for $1,150,000.
  • Development land located at 600 McMurray Rd in Buellton, CA sold for $1,850,000. This property will be turned into a business development which has been approved by the city of Buellton. The new development will include wine tasting, restaurants, breweries and mixed retail spaces. This very high end development has outside entertainment included in the current plan.
  • Vineyard property located at 6955 Estrella Rd in San Miguel is 95.9 acre with approximately 65 acres of wine grapes planted sold for $2,100,000.

 

2016 Paso Robles Commercial Leases:

  • New industrial and retail building located at 3310 Ramada Drive in Paso Robles isbeing leased for wineries and tasting rooms.
  • Restaurant space located at 7177 El Camino Real in Atascadero, CA is being leased to Mr. Pickles.
  • Industrial park located at 2915-2921 Union Road in Paso Robles, CA is being fully leased.
  • Commercial space located at 2727 Buena Vista Drive in Paso Robles, CA is approximately 4,000 square feet and being leased to Sola Salon Studios.

 

“2017 looks to be a continuing of the strong trend from 2016,” says Shannon. “Inventory is being absorbed, causing lease and sale rates to increase. We are looking forward to a great year for buyer’s and sellers and another banner year for the Pacifica Commercial Realty team.”

 

Paso Robles Commercial Real Estate

Pacifica Commercial Realty, founded in 1969, is the largest, full service industrial, commercial and investment central coast commercial real estate company and specializes in the purchase and sale of vineyards and business complexes. Their team of licensed real estate brokers, management professionals and agents provide complete services to the community through commercial and vineyard real estate sales, management, and leasing.

 

For more information, call (805) 237-4040. Their office is located at 504 First Street, Suite A in Paso Robles, CA 93446.