Serving desserts, steaks, and pasta since 1962, the Borello family decided to sell Tony's Restaurant, and it went for a record $544 per square foot.

Hayes Commercial Group

Serving desserts, steaks, and pasta since 1962, the Borello family decided to sell Tony's Restaurant, and it went for a record $544 per square foot.

Tony’s Restaurant in Carpinteria Sold

Records Set in Recent Carp Sales

Record-setting real estate deals were the name of the game in Carpinteria recently. In terms of size, the sale of the nine-acre, ocean-front property that is home to CKE Restaurant Holdings — Carl’s Jr., Hardee’s, and the Green Burrito — and Procore Technologies at 6303-6309 Carpinteria Avenue was called “the highest value commercial sale ever recorded in Carpinteria” by Hayes Commercial Group. And a sale that provoked an outpouring of memories — and set a record per-square-foot price — was the turnover of a Carpinteria landmark, Tony’s Restaurant, which closed in May and its building’s sale announced in July.

The property — home to Carl's Jr., Hardee's, and the Green Burrito, among others — was Carpinteria's "highest value commercial sale ever recorded," said Hayes Commercial Group.
Click to enlarge photo

Hayes Commercial Group

The property — home to Carl’s Jr., Hardee’s, and the Green Burrito, among others — was Carpinteria’s “highest value commercial sale ever recorded,” said Hayes Commercial Group.

In the bluff-top property transaction, Francois DeJohn and Steve Hayes of Hayes Commercial represented both buyer — Montana Avenue Capital Partners LLC of Santa Monica — and seller, two limited liability partnerships called Carp One and Carp Two that had held the 118,394-square-foot office campus for 16 years. The sale price was not disclosed, though it listed for $32.5 million. Both CKE and Procore remain in residence, and DeJohn and Hayes represent the new owner in leasing the available 46,000-square-foot space. Montana Avenue Capital plans upgrades inside and out, including patio areas, glass roll-up doors, EV charging stations, and exposed ceilings. PK Architecture of Agoura Hills is the architect on the project.

Tony’s has been a Carpinteria banana-cream-pie staple at 699 Linden Avenue, judging by its many Yelp comments. The location, just three blocks from the beach, went for $544 per square foot, and sold for close to its $1.575 million asking price, said Dan Moll, of Hayes Commercial Group. The previous record was $524 per square foot in 2013 for a Victorian at 789 Linden, Hayes’s Ted Hoagland added.

The Borello family decided to hang up their collective aprons at the Italian restaurant, which was also noted for its steaks, seafood, barbecued ribs, salad bar, and other desserts. Tony’s was opened in 1962 by the late Anthony “Tony” Borrello and his wife, Antoinette, also known as Toni.

Across the street, the building housing another iconic Carpinteria restaurant, Sly’s, is also for sale, but agent Dan Moll of Hayes Commercial says Sly’s will remain on a long-term lease.

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