STATE ST | SANTA BARBARA CA 93101 FOR SALE | NET LEASED INVESTMENT ±10,214 SF Prime Retail Space adjacent to City Parking Lot 10 in the heart of Downtown Santa Barbara 624 Offered at $9,950,000 TENANT URBAN OUTFITTERS SIGNED 5-YEAR LEASE RENEWAL DURING COVID-19 PANDEMIC Austin Herlihy Chris Parker 805.879.9633 805.879.9642 [email protected] [email protected] CA LIC. 01518112 CA LIC. 01887788 3.9.21 205 E. CARRILLO ST. SUITE 100 | SANTA BARBARA CA 93101 | 805.965.5500 | RADIUSGROUP.COM FOR SALE | PRIME SINGLE LEVEL RETAIL BUILDING 624 State St. | Santa Barbara, CA 93101 PROPERTY OVERVIEW Prime, single-level retail building custom designed and built for Urban Outfitters in 1999 and has remained the only tenant since the building’s CITY PARKING completion. The ±10,214 SF structure is situated in a high foot traffic LOT 10 section of downtown Santa Barbara adjacent to bars, dining, boutiques, parking garages and entertainment venues. Sweeping, open floorplan filled with natural light thanks to six skylights and large State Street facing windows. Cement flooring and industrial-style lighting makes this a modern and highly valuable asset for investors seeking Class A properties in downtown Santa Barbara. Offering Specifics Price $9,950,000 Building Size ±10,214 SF Price/SF $974/SF Cap Rate 4.5% NOI $451,478 Tenant Urban Outfitters (Nasdaq: URBN, $3 billion market capitalization) | 20+ year operations history at this property Parking 553 parking spaces in the public lot behind property APN 037-132-030 Year Built 1999 Zoning M-C (Manufacturing Commercial) The information provided here has been obtained from the owner of the property or from other sources deemed reliable. We have no reason to doubt its accuracy, but we do not guarantee it. Austin Herlihy Chris Parker 805.879.9633 805.879.9642 [email protected] [email protected] CA LIC. 01518112 CA LIC. 01887788 3.9.21 205 E. CARRILLO ST. SUITE 100 | SANTA BARBARA CA 93101 | 805.965.5500 | RADIUSGROUP.COM FOR SALE | PRIME SINGLE LEVEL RETAIL BUILDING 624 State St. | Santa Barbara, CA 93101 2020 DEMOGRAPHICS 1 MILE 5 MILE 10 MILE TRAFFIC COUNTS Average HHI: $90,128 $130,290 $137,670 101 Freeway at Carrillo/Bath Strets 98,402 ADT Population: 25,391 88,614 112,423 State Street at W. Carrillo St. 23,328 ADT Daytime Population: 35,867 54,781 70,095 State Street at E. Haley St. 6,960 ADT 2020 Estimates from SitesUSA Traffic Counts from SitesUSA The information provided here has been obtained from the owner of the property or from other sources deemed reliable. We have no reason to doubt its accuracy, but we do not guarantee it. Austin Herlihy Chris Parker 805.879.9633 805.879.9642 [email protected] [email protected] CA LIC. 01518112 CA LIC. 01887788 3.9.21 205 E. CARRILLO ST. SUITE 100 | SANTA BARBARA CA 93101 | 805.965.5500 | RADIUSGROUP.COM FOR SALE | PRIME SINGLE LEVEL RETAIL BUILDING 624 State St. | Santa Barbara, CA 93101 INCOME ANALYSIS & LEASE SYNOPSIS Income Analysis Rent Address Tenant Size (SF) Year 1 Adjustments 624 State St. Urban Outfitters 10,214 SF $451,478 Fixed ANNUAL NET OPERATING INCOME: $451,478 CAP RATE: 4.5% PURCHASE PRICE: $9,950,000 PRICE PER SQUARE FOOT: $974 Lease Synopsis Share of Operating Rent Address Tenant Size (SF) Monthly Rent Costs Adjustment Term (Start–End) Options 624 State St. Urban 10,214 SF $37,623.17 100% Fixed May 16, 2020–May 15, 2025 None Outfitters TOTALS 10,214 SF $37,623.17 100% The information provided here has been obtained from the owner of the property or from other sources deemed reliable. We have no reason to doubt its accuracy, but we do not guarantee it. Austin Herlihy Chris Parker 805.879.9633 805.879.9642 [email protected] [email protected] CA LIC. 01518112 CA LIC. 01887788 3.9.21 205 E. CARRILLO ST. SUITE 100 | SANTA BARBARA CA 93101 | 805.965.5500 | RADIUSGROUP.COM FOR SALE | PRIME SINGLE LEVEL RETAIL BUILDING 624 State St. | Santa Barbara, CA 93101 STATE STREET The information provided here has been obtained from the owner of the property or from other sources deemed reliable. We have no reason to doubt its accuracy, but we do not guarantee it. Austin Herlihy Chris Parker 805.879.9633 805.879.9642 [email protected] [email protected] CA LIC. 01518112 CA LIC. 01887788 3.9.21 205 E. CARRILLO ST. SUITE 100 | SANTA BARBARA CA 93101 | 805.965.5500 | RADIUSGROUP.COM FOR SALE | PRIME SINGLE LEVEL RETAIL BUILDING 624 State St. | Santa Barbara, CA 93101 SANTA BARBARA SANTA BARBARA HARBOR CITY COLLEGE THE FUNK 1 Apple ZONE 2 Bank of The West 3 FedEX Office Print & Ship Center 4 Old Navy 10 11 5 Marshalls 16 6 Satellite SB 19 20 624 STATE 18 7 Rite Aid STREET 15 8 Montecito Bank & Trust 9 Bank of America Financial Center PASEO NUEVO 6 MALL 10 Holiday Inn Express 9 11 Institution Ale 5 12 Kimpton Canary Hotel 5 13 Dune Coffee Roasters 14 Gold’s Gym 1 12 15 Grassini Family Vineyards 14 16 Levi’s Store CHAPALA ST. 17 CVS Pharmacy STATEST. 18 Volcom 8 19 Cost Plus World Market 20 Santa Barbara Craft Ramen 13 3 17 2 4 The information provided here has been obtained from the owner of the property or from other sources deemed reliable. We have no reason to doubt its accuracy, but we do not guarantee it. Austin Herlihy Chris Parker 805.879.9633 805.879.9642 [email protected] [email protected] CA LIC. 01518112 CA LIC. 01887788 3.9.21 205 E. CARRILLO ST. SUITE 100 | SANTA BARBARA CA 93101 | 805.965.5500 | RADIUSGROUP.COM FOR SALE | PRIME SINGLE LEVEL RETAIL BUILDING 624 State St. | Santa Barbara, CA 93101 LOCATION | DOWNTOWN SANTA BARBARA & THE FUNK ZONE Santa Barbara Santa Barbara City College Harbor Stearns Wharf West Beach HWY 101 Santa Barbara STATE ST Train Station CABRILLO BLVD 624 STATE ST. The Funk Zone STATE ST HWY 101 Downtown GARDEN ST Santa Barbara Paseo Nuevo Mall The information provided here has been obtained from the owner of the property or from other sources deemed reliable. We have no reason to doubt its accuracy, but we do not guarantee it. Austin Herlihy Chris Parker 805.879.9633 805.879.9642 [email protected] [email protected] CA LIC. 01518112 CA LIC. 01887788 3.9.21 205 E. CARRILLO ST. SUITE 100 | SANTA BARBARA CA 93101 | 805.965.5500 | RADIUSGROUP.COM FOR SALE | PRIME SINGLE LEVEL RETAIL BUILDING 624 State St. | Santa Barbara, CA 93101 NEARBY COMMERCE & AMENITIES 1 The Hotel Californian 2 Brass Bear Brewing & Bistro 624 STATE ST. 9 3 Yoga Soup 4 Santa Barbara Roasting Company Downtown 10 Santa 17 HWY 101 14 5 Greyhound & Amtrak Stations Barbara 6 Hotel Indigo Santa Barbara 11 21 7 D'Angelo Pastry & Bread 7 4 8 Mountain Air Sports 22 16 3 YANONALI ST 9 Metropulos Fine Foods Merchant STATE ST 12 13 10 REI 20 18 11 Tyger Tyger 5 2 12 Figueroa Mountain Brewery MASON ST 13 The Lark Restaurant 15 19 6 14 Topa Topa Brewing Co. 15 MOXI: The Wolf Museum of Exploration + Innovation 1 8 16 The Wayfarer Hotel 17 Casa Blanca Restaurant & Cantina 18 Channel Islands Surfboards 19 Santa Barbara FisHouse CABRILLO BLVD 20 Loquita Santa Barbara Stearns 21 Seven Bar & Kitchen West Wharf Beach 22 Sevilla Luxury Condo Complex Santa Barbara Harbor The information provided here has been obtained from the owner of the property or from other sources deemed reliable. We have no reason to doubt its accuracy, but we do not guarantee it. Austin Herlihy Chris Parker 805.879.9633 805.879.9642 [email protected] [email protected] CA LIC. 01518112 CA LIC. 01887788 3.9.21 205 E. CARRILLO ST. SUITE 100 | SANTA BARBARA CA 93101 | 805.965.5500 | RADIUSGROUP.COM FOR SALE | PRIME SINGLE LEVEL RETAIL BUILDING 624 State St. | Santa Barbara, CA 93101 FLOORPLAN 624 State St. | ±10,214 SF $974/SF Restrooms STATE STREET STATE The information provided here has been obtained from the owner of the property or from other sources deemed reliable. We have no reason to doubt its accuracy, but we do not guarantee it. Austin Herlihy Chris Parker 805.879.9633 805.879.9642 [email protected] [email protected] CA LIC. 01518112 CA LIC. 01887788 3.9.21 205 E. CARRILLO ST. SUITE 100 | SANTA BARBARA CA 93101 | 805.965.5500 | RADIUSGROUP.COM FOR SALE | PRIME SINGLE LEVEL RETAIL BUILDING 624 State St. | Santa Barbara, CA 93101 THE TENANT | URBAN OUTFITTERS We are a leading lifestyle products and services company that operates a portfolio of global consumer brands comprised of the Anthropologie, Bhldn, Free People, Terrain, Urban Outfitters and Nuuly brands and our Menus & Venues (formerly known as “Food and Beverage”) division. We have achieved compounded annual sales growth of approximately 4% over the past five years, with sales of approximately $4.0 billion during the fiscal year ended January 31, 2020. URBN is traded on the NASDAQ and currently has 248 locations. We operate under three reportable segments – Retail, Wholesale and Subscription. Our Retail segment consists of our Anthropologie, Bhldn, Free People, Terrain and Urban Outfitters brands and our Menus & Venues division. We have over 49 years of experience creating and managing retail stores that offer highly differentiated collections of fashion apparel, accessories and home goods, among other things, in inviting and dynamic store settings. Our core strategy is to provide unified environments that establish emotional bonds with the customer, primarily through Company-owned stores but also through franchised or third-party operated stores.