Rumors had swirled that Google would be opening a chain of retail stores in the heart of New York City, but a new report indicates that it isn’t happening after all.

Speculation ran rampant when word leaked out that Google had leased a 5,442 square foot space in SoHo last year and would be paying $2.25 million each year for it, according to a Crain’s New York Business report.

Google had even spent $6 million on a renovation project for the location on Green Street, which was to be the first stand-alone Google store that would seek to compete with Apple’s brick-and-mortar stores that have become a popular showcase for iPads and iPhones. Microsoft has been doing the same, opening up a store on Fifth Avenue.

But Google apparently wasn’t quite ready for the splash. The idea was that the store would sell Chromebooks running Google software, as well smartphones using its Android operating system.

But now, Google is subleasing the space, indicating it no longer plans to use it — at least not anytime soon.

Still, it is probably only a matter of time before Google dips its toe in the water again. It has already opened a kiosk within an electronics store in London.