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Thursday, December 13 , 2018, 10:55 am | Fair 62º


Target Ditches Potential Store Location on Hollister Avenue in Goleta

After eyeing an 11-acre site for more than three years, the retailer is no longer in discussions to purchase the property

Target has axed plans to buy a Hollister Avenue property to build a store in Goleta, according to the real estate firm handling the deal.

This week’s announcement cements concerns that the national retailer has not been able to successfully negotiate a sale with the property owner at 6466 Hollister Ave., which sits on 11 acres that Target has been eyeing for more than three years. 

“The owner of the property is disappointed to report that Target has elected to terminate the escrow to purchase the property, and we are no longer in discussions,” Hayes Commercial Group partner Greg Bartholomew wrote to Noozhawk in an email Friday.

No specific reasons were offered for why the sale fell through, although Bartholomew said in August that Target had been having difficulties negotiating with three tenants currently on the property, along with other issues.

At that time, Target had taken a step back so HCR LLC, the longtime local family property owners, could negotiate with the Goleta Valley Athletic Club, Santa Barbara Motorsports and landscaper Enviroscaping.

A portion of what is now Los Carneros Way also was supposed to be used for the project.

Target would not confirm whether escrow had been terminated or share details about plans for a new store location.

“Goleta is a great market for Target, and we continue to consider new opportunities to serve guests there,” spokeswoman Kristen Emmons said.

As of Friday, Target had not yet contacted the City of Goleta with its change of plans, according to senior planner Mary Chang.

The project had been in standstill, with the Planning Department waiting for Target to put a deposit down to start an environmental-review process after the initial OK from the City Council more than a year ago.

The store’s initial site plan, submitted in 2012, was sent back for further clarifications. In April 2013, revised plans were presented for the 160,000-square-foot store — reducing square footage and increasing parking, among them — and planners signed off on the project.

Noozhawk staff writer Gina Potthoff can be reached at .(JavaScript must be enabled to view this email address). Follow Noozhawk on Twitter: @noozhawk, @NoozhawkNews and @NoozhawkBiz. Connect with Noozhawk on Facebook.

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