South Coast City Goes From Renter To Owner Of Its City Hall Complex

Nov 7, 2019

A South Coast city is hoping to save hundreds of thousands of dollars over the next few years by buying the office building it’s been renting for it City Hall complex. Goleta closed escrow on the 40,000 square foot building on the 100 block of Cremona Drive.

The city has rented the building for the past 15 years. Goleta paid $11.5 million dollar for the complex. City officials say they spent about $750,000 on rent and maintenance in the last year.

They expect to save more than $60,000 in their first year of ownership, with the savings increasing over time. The city only uses about two thirds of the building, with the final third currently vacant.

The extra space gives the city room for growth in its operations, or possibly extra revenue renting it to others.