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Noozhawk: Bizhawk: Montecito Retail Building Sells for $14.5 Million

April 11, 2014

Noozhawk: Bizhawk: Montecito Retail Building Sells for $14.5 Million

Santa Barbara, California – Published 4/11/2014
Noozhawk
Noozhawk: Bizhawk: Montecito Retail Building Sells for $14.5 Million
By Gina Potthoff, Noozhawk Staff Writer
1046 Coast Village Road Retail Center
(Radius Commercial Real Estate & Investments photo)

The 13,800-square-foot retail building at 1046 Coast Village Road has sold for $14.5 million in an off-market deal. The retail center that includes tenants Starbucks, Vons Pharmacy, Blenders in the Grass and Sakana Sushi Bar and Japanese restaurant — all of which hold long-term leases — sold to Deborah and James Longo, who recently purchased a second home in Montecito, according to Radius Commercial Real Estate & Investments.

The sale marked the largest sale of commercial property ever on Coast Village Road.

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