In 2017, Gryphon Capital took on the unique challenge of developing the first Target store in the City of Santa Barbara. Our team transformed a former two-story, open-air center with inward facing tenants into the vibrant new location for Target. The renovation, which was completed in 2019, included new façades, additional elevator and escalators and significant property improvements. We worked closely with local officials as we navigated through Santa Barbara’s lengthy and strenuous permitting process. With a prime hard corner location at a four-way signalized intersection, the store benefits from excellent visibility.
- Generational opportunity — ultra high barrier to entry Southern California coastal market
- One of the wealthiest and most exclusive communities in the world
- Two levels with escalators/elevators
- Located adjacent to The Marc Luxury Apartments and steps from La Cumbre Plaza, an upscale retail development
- Nearest Target is currently 37 miles away