REAL DEALS: Castilian incubator ready for techies
Maria Zate

Work stations, private offices and larger research lab spaces line the wide hallways of the revamped building at 55 Castilian Drive.

August 8, 2007 7:38 AM

What was once the former headquarters of Hendry Telephone Products, at 55 Castilian Drive, Goleta, has been transformed into a shiny and new business incubator, geared toward attracting high-tech start-ups hatched from the brilliant minds at UCSB.

Now dubbed Castilian Research & Technology Center, the property is offering a variety of office, R&D and warehouse options -- ranging from a work station desk to a private office to approximately 2,500 square feet of "clean room" lab space -- within the 37,000-square-foot building.

A joint venture made up of East Group , a real estate investment trust based in Texas, and Goleta-based Bermant Development Company purchased the building almost two years ago (listed at $4.75 million), after Hendry was purchased by another company and its operations moved out of state.

After spending a long time working through the Goleta building approval process and dropping more than $3 million into renovations, the owners are ready to start signing leases. An open house will be held Aug. 15 to give the public a chance to view the sleek, modern interior improvements.

Brokers Kristopher Roth , Francois DeJohn and Steve Hayes at Leider Hayes in Santa Barbara are handling the leasing of the larger spaces. Bermant Development is the property manager, and property management director Erica Farias and property manager Sabine Freisthuler will be handling the leasing of the smaller offices and work stations.

Lease terms will run from as short as one year to as long as five years. A 1,540-square-foot office space, for example, has an asking monthly rent of $3,010 gross, which includes one parking space, conference room use and a shared reception area. Tenants will pay their own electricity bills.

"It has amazed us all how much interest we've received already," Mr. Roth said on Tuesday during a tour of the property. "There really is nothing else like this out there right now, especially for R&D-type start-ups that need clean-room space."

Another Bermant-owned and -managed incubator in Goleta is the Pacific Technology Center, which is all office space in an aging building that needs a major remodeling, according to some past tenants. In Santa Barbara, Bermant also manages an incubator property in an older building on Gutierrez Street.

Mr. Roth added that a few companies have expressed interest in leasing the entire Castilian building.

"We could've leased all of it to one company, but it's really set up to be an incubator space. And there's plenty of demand for it."