PacBiz Times: Majestic sells Tech park portfolio for South Coast record $235M
- 6 days ago
- 2 min read
March 19, 2026
Majestic Asset Management sold 17 buildings related to its Tech Park at Goleta portfolio to Praelium Commercial Real Estate, according to Hayes Commercial Group, which represented the transaction.
Though the amount was not disclosed, public records unveiled by the Business Times found that the entire deal was valued at approximately $235 million, making it the largest commercial sale in Santa Barbara, not including hospitality deals.
The second-highest deal ever completed on the South Coast would be the former headquarters of software firm QAD in the Santa Barbara area, which sold for an estimated $104 million to the University of California, according to a deed filed with the Santa Barbara County Clerk-Recorder in June 2022.
The deal went through in February off-market, according to Hayes.
The buyer, Praelium Commercial Real Estate, is a real estate investment and operating platform focused on complex commercial assets, with an emphasis on long‑term value creation through active ownership and disciplined asset management.
Praelium is no stranger to the area, as they are one of the owners of the vacant Nordstrom building on State Street. Praelium acquired the building at 17 W. Canon Perdido St. in 2021.
Francois DeJohn and Caitlin Hensel of Hayes Commercial Group represented all parties, according to Hayes CRE.
The portfolio’s five campuses consist of 17 buildings totaling approximately 733,000 square feet of research and development, flex, and office space.
These buildings include: the Tech Park @ Ward (839, 859-861 & 867-879 Ward Dr), the Tech Park @ Castilian (110, 130 & 150 Castilian Dr), the Tech Park @ Cremona (120, 125 & 175 Cremona Dr), the Tech Park @ Engage (320 & 340 Storke Rd; 315, 336, 346 Bollay Dr) and the Tech Park @ Hollister (7414, 7416 & 7418 Hollister Ave).
The Tech Park @ Engage is a particularly hot area, as in 2024, Redwire Space Enterprises expanded its Goleta footprint by leasing a 42,600-square-foot R&D building at 326 Bollay Drive. This seven-year lease, brokered by Hayes Commercial Group, was the largest in Goleta at the time, doubling their local operations to nearly 90,000 square feet.
Majestic, based in Los Angeles, will continue to serve as the property manager, providing continuity for tenants and operations, according to details of the deal.
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