HomeGoods signs $3.4M lease in SLO
Retail chain HomeGoods has signed a 10-year lease valued at $3.4 million at the Irish Hills Plaza in San Luis Obispo. It will replace OfficeMax in the 20,059-square-foot space.
Marshalls building on State Street sells for $14.3M
The Marshalls-occupied building at 900 State St. in downtown Santa Barbara has been sold for $14.3 million in an all-cash off-market deal, marking a 43 percent premium over the last time the property changed hands.
Target store in Westlake Village takes aim at mid-2014 opening
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Simi mall owners pin turnaround plan on high-end theater anchor
Over the last three years, the new owners have gone through dozens of draft plans and contended with the demise of Simi Valley’s redevelopment agency. The developers have finally settled on a vision that will add a Studio Movie Grill as a second anchor tenant and build a new, centrally located parking lot.
Philanthropist Fred Kavli dies at 86
Fred Kavli, a Norwegian-born entrepreneur, scientist and philanthropist who created thousands of jobs and gave millions for the study of theoretical physics, died at his home in Santa Barbara on Nov. 21. He founded KavliCo Corp., a Moorpark-based maker of advanced sensors for cars and aircraft. He also invested in real estate for more than 50 years.
Central Coast leads the way as solar, tourism boost SLO County recovery
In remarks prepared for the 2014 SLO County Economic Forecast Breakfast on Nov. 22, Jordan Levine of Beacon Economics said only San Luis Obispo, San Jose, San Francisco and Bakersfield have gone positive when it comes to the pre-recession jobs peak.
Emissions cap prompts oil firm backlash
Santa Barbara County’s decision to impose a strict cap on carbon emissions from a proposed oil project puts the county at a competitive disadvantage in California and likely will cut into the money energy firms pump into the regional economy.
The Board of Supervisors voted 3-2 on Nov. 12 to require Santa Maria Energy to cap its carbon emissions at 10,000 tons per year. Santa Maria Energy had proposed 136 wells for a site near Orcutt.
Santa Barbara County’s oil is thick and viscous. In order to extract it, companies inject steam into wells to soften the oil. Burning natural gas to create the steam is what generates the bulk of carbon emissions.
