6865 Hollister Ave Santa Barbara, CA 93117

This is a rare investment opportunity to acquire a fee simple interest in a single-tenant, NNN-leased Target property in Goleta, Santa Barbara County. The retail asset features a newly constructed, full-size Target store totaling approximately 116,612 square feet, positioned on a 7.64-acre site. The property is secured by a 20-year lease with Target Corporation. The lease commenced just over five years ago and provides for 10% rental escalations every five years, as well as four additional ten-year renewal options. Target selected this location in 2018. Goleta is a market bolstered by demographics and a thriving economy. The city is home to the University of California, Santa Barbara, with an enrollment of 26,325 students. The property serves a trade area, encompassing the communities of Santa Barbara, Carpinteria, Montecito, Solvang, Santa Ynez, and Goleta itself, together boasting a population exceeding 153,000 residents and an average annual household income of $131,000. Goleta’s retail market generated over $1.05 billion in sales, highlighting the area’s retail vitality.