Monday, July 23 , 2018, 2:53 am | Fair 68º

 
 
 
 

Business

Hertz to Open New Santa Barbara Location on La Cumbre Road

Hertz Corp., one of the world’s largest equipment rental businesses and the world’s largest airport general use car rental brand, recently leased retail space for a new location to serve Santa Barbara.

The new site will be the freestanding, 1,013-square-foot building at 16 S. La Cumbre Road, adjacent to the Five Points Shopping Center.

Michael Martz of Hayes Commercial Group represented Hertz in the transaction.

Hertz, which currently has a location at the Santa Barbara Airport and an on-site location at Fess Parker’s DoubleTree Resort, recently set its sights on a new Santa Barbara location.

“Hertz wanted a presence in the upper State Street area, primarily to serve local residents who need a rental car for a trip out of town or because their car is in the shop,” Martz said.

Hertz selected Martz to locate sites and negotiate a lease. Martz, a member of the International Council of Shopping Centers and a retail specialist for the Central Coast, is regularly called on by national and regional tenants to help secure Central Coast locations.

With Santa Barbara’s extremely low vacancy rate, quality retail locations are a rare commodity.

“Retailers are often surprised at the difficulty of finding good locations in our market,” Martz said.

Santa Barbara’s retail vacancy is 2.1 percent, dramatically lower than the national average of 10.4 percent.

“In most cities, if vacancy rates get this low developers can build new retail centers to satisfy the demand,” Martz said. “However, Santa Barbara’s lack of excess land and relatively stringent approval process result in almost no new retail development.”

Hertz plans to open the new location at 16 S. La Cumbre Road this summer.

— Ted Hoagland is the marketing manager for Hayes Commercial Group.

Support Noozhawk Today

You are an important ally in our mission to deliver clear, objective, high-quality professional news reporting for Santa Barbara, Goleta and the rest of Santa Barbara County. Join the Hawks Club today to help keep Noozhawk soaring.

We offer four membership levels: $5 a month, $10 a month, $25 a month or $1 a week. Payments can be made through Stripe below, or click here for information on recurring credit-card payments and a mailing address for checks.

Thank you for your vital support.

Become a Noozhawk Supporter

First name
Last name
Enter your email
Select your membership level
×

Payment Information

You are purchasing:

Payment Method

Pay by Credit Card:

Mastercard, Visa, American Express, Discover
One click only, please!

Pay with Apple Pay or Google Pay:

Noozhawk partners with Stripe to provide secure invoicing and payments processing.

  • Ask
  • Vote
  • Investigate
  • Answer

Noozhawk Asks: What’s Your Question?

Welcome to Noozhawk Asks, a new feature in which you ask the questions, you help decide what Noozhawk investigates, and you work with us to find the answers.

Here’s how it works: You share your questions with us in the nearby box. In some cases, we may work with you to find the answers. In others, we may ask you to vote on your top choices to help us narrow the scope. And we’ll be regularly asking you for your feedback on a specific issue or topic.

We also expect to work together with the reader who asked the winning questions to find the answer together. Noozhawk’s objective is to come at questions from a place of curiosity and openness, and we believe a transparent collaboration is the key to achieve it.

The results of our investigation will be published here in this Noozhawk Asks section. Once or twice a month, we plan to do a review of what was asked and answered.

Thanks for asking!

Click Here to Get Started >

Reader Comments

Noozhawk is no longer accepting reader comments on our articles. Click here for the announcement. Readers are instead invited to submit letters to the editor by emailing them to [email protected]. Please provide your full name and community, as well as contact information for verification purposes only.

Daily Noozhawk

Subscribe to Noozhawk's A.M. Report, our free e-Bulletin sent out every day at 4:15 a.m. with Noozhawk's top stories, hand-picked by the editors.

Sign Up Now >

Meet Your Realtor Sponsored by Village Properties

Photo of Cimme Eordanidis
Cimme Eordanidis
"Since I truly enjoy doing what I do, interacting with people and representing them during one of life's most exciting events is very rewarding."

Full Profile >