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Colliers announced today the $11,300,000 sale of Kellogg Square, a neighborhood retail center located at 5555-5585 Hollister Avenue in one of Santa Barbara’s most established retail corridors. Home to a diverse mix of retail, restaurant, and service-oriented tenants, the property serves the surrounding community and benefits from strong market fundamentals. Its prime location and stable occupancy attracted significant interest from buyers seeking well-positioned retail assets on California’s Central Coast.
The transaction was brokered by the Colliers advisory team of Vice President Miles Waters, Executive Vice President Austin Herlihy, Vice President Chris Parker, and Associate Mike Chung, who represented the buyer, AJR Capital Group, LLC, and the undisclosed seller.
“Kellogg Square represents a highly desirable neighborhood retail investment in one of Southern California’s most sought-after coastal markets,” said Miles Waters, Vice President at Colliers. “The combination of a strategic location, an established tenant base, and the enduring strength of the Santa Barbara market made this a compelling opportunity for investors.”
“This transaction represents the catalyst Old Town Goleta has been waiting for,” added Austin Herlihy, Executive Vice President at Colliers. “With thousands of new residential units coming into the pipeline across Goleta to meet essential housing demand, Old Town is experiencing a dramatic shift. This specific asset sits right at the center of that growth, bridging the gap between new housing and the cutting-edge commercial infrastructure driving our local economy.”
With its established tenant roster, neighborhood-serving retail mix, and desirable location, Kellogg Square attracted strong interest from investors seeking stable retail assets on California’s Central Coast. The closing reflects continued confidence in well-positioned retail properties throughout the region. Under its new ownership, the center is expected to remain a key neighborhood-serving retail destination for the Goleta community.
