Scott San Filippo Of Praelium Acquires Industrial Portfolio In Goleta For $235 Million From Majestic Asset Management

An industrial property portfolio consisting of 17 buildings, located on Hollister Avenue, Castilian Drive, Cremona Drive, Bollay Drive & Ward Drive in the Goleta market, was sold for $235 million. The total square footage of the portfolio is approximately 700,000, with a price per square foot of $336. The buildings were constructed between 1959 and 1996, with an average size of approximately 41,000 square feet per building.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $235,000,000
• Buyer: Scott San Filippo - Praelium
• Seller: Majestic Asset Management
• Square Footage: 700,000
• Price per Square Foot: $336

Praelium acquired the portfolio from Majestic Asset Management, marking a record sale on the South Coast. The properties are currently leased to significant tenants, including Lockheed Martin and Umbra Space, and were assembled through multiple acquisitions conducted by Majestic between 2018 and 2022.