The Post Montecito Sells for $56 Million in a Standout Coastal Retail Deal

A popular retail property along Santa Barbara’s coastline has changed hands in a high-value deal. 

The Post Montecito sold for $56 million on March 18, 2026, according to a social media post by Traded. 

Located on 1801 East Cabrillo Boulevard, the shopping center was acquired by Asana Partners, a retail real estate investment firm based in Charlotte, North Carolina. 

The Post Montecito spans 36,866 sq. ft., and the price per square foot equates to around $1,519, according to the Instagram post. The pricing reflects strong value for a coastal commercial property in a sought-after location. 

 

 

 

 

 

 

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The deal was brokered by JLL, represented by Geoff Tranchina, Gleb Lvovich, and Daniel Tyner, according to Traded. 

Asana Partners acquired the property from Runyon Group, which purchased the asset for $19.25 million in 2022, according to a social media post. 

Then known as Las Aves, Runyon Group redeveloped the property in collaboration with MGMT Partners to reposition it as The Post, a curated retail destination. 

The transformation of the property into a high-end shopping destination with open spaces aligns with Montecito’s upscale and relaxed atmosphere. 

The significant jump in The Post Montecito’s sale price represents its increase in value in a short time and highlights the success of the shopping center. 

 

 

 

 

 

 

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The $56 million sale price also indicates buyer’s continuing interest in Montecito and its appeal as a lifestyle and retail hub. The coastal enclave is home to several intimate and exclusive tasting rooms, retail outlets, and dining spots. 

Montecito’s broader retail and dining scene is witnessing several new businesses opening across the coastal enclave, attracting both locals and visitors, 

Among the new additions is Monte’s, a restaurant at 1198 Coast Village Road that follows a farm-to-table concept and blends local ingredients with Korean influences. 

Sunstone Winery marked its first off-site location with the opening of the Sunstone Wine Lounge at 1294 Coast Village Road earlier this month. 

About The Post Montecito

Characterized as a “gathering spot for the American Riviera,” The Post Montecito offers more than a dozen specialty and high-end stores, cafes, and destination restaurants, according to its website. 

The Post Montecito encompasses six historically preserved buildings situated on a private lane and is a short bike ride from oceanfront Santa Barbara. 

Earlier this month, Milan-based clothing brand Eleventy opened at The Post Montecito, bringing the brand’s Italian tailoring and seasonal collections to Santa Barbara. 

In addition to the newly opened Eleventy, swimwear brand Malia Mills also opened recently at The Post Montecito. 

Some of the popular dining destinations at the destination include Ospi Montecito and Little King Coffee. 

Additionally, the shopping center hosts several events, including food pop-ups, family-friendly programming, and artisan marketplaces.