Money and Business

Former Macy's building at Paseo Nuevo in Downtown Santa Barbara has a new owner

SANTA BARBARA, Calif. - In March 2017, Macy's closed the doors to its downtown Santa Barbara building for good. Now, that empty building has a new owner.

Pacific Retail Capital Partners, the managing partner of Paseo Nuevo Shops & Restaurants has acquired the old Macy's building.

“Investment in the former Macy’s building demonstrates our commitment to this community, State Street and the next generation planning of Paseo Nuevo. We have been working to form the adaptive reuse of the building that will contribute to the balance and remerchandise of the area,” said Steve Plenge, managing principal, Pacific Retail Capital Partners.

Although no permanent plans have been developed for the building yet, Pacific Retail Capital Partners says it plans to use the space in the short-term for community events, pop-up shops and entertainment experiences.

Paseo Nuevo invites the community to share their shopping habits, desired retail brands and restaurant suggestions through a survey that is available online at PaseoNuevoShopping.com.


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