Densely populated, in-fill supply-constrained trade area with over 16,500 residents located within a 1 mile radius

Affluent submarket with average household incomes exceeding $93,100 within a 1-mile radius

Although sales volumes are not officially reported at this store, industry sources have estimated this Trader Joe’s location generates sales in excess of $40 million (over $2,100 PSF)

Trader Joe’s below market rent of $2.24 PSF/Month combined with an extremely low occupancy cost as a percentage of sales due to reportedly strong sales from this location creates long term intrinsic value

Whole Foods recently (October 2009) executed a 29,884 SF lease less than one mile west of the Trader Joe’s site at a rent of $4.64 PSF/Month – Whole Foods is also leasing their parking lot for $225,000/year for a total effective rent of $5.27 PSF/Month, demonstrating the future rent growth potential for the Trader Joe’s site

Located immediately adjacent to State Street (over 31,800 cars per day) along De La Vina Street (over 16,100 cars per day)

Santa Barbara currently has no traditional retail space greater than 12,000 SF
available for lease - limited availability of traditional anchor space along with strict limitations on development will continue to maintain upward pressure on rents in Santa Barbara