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PRESS RELEASE / ANNOUNCEMENTS Monday, September 8, 2014

Landmark Summerland building sold for record price

Landmark Summerland building sold
Mixed-use property on Lillie Ave sets high mark for price

September 8, 2014

Summerland, CA – One of the most recognizable buildings on Summerland’s commercial corridor has been purchased by a local investor in an off-market transaction. The sale price of more than $600 per square foot marked the highest price per square foot ever paid for a commercial property larger than 2,000 square feet in Summerland. Michael Martz and Kristopher Roth of Hayes Commercial Group represented the seller, also a local investor.

The 4,344 sf mixed-use building at 2330 Lillie Ave is currently home to the Summerland Winery Tasting Room and Bonita Boutique. In addition to the two retail spaces on the ground floor there are two residential units above. Half a block from the northbound freeway exit, the 11,761 square foot parcel is located in the heart of the Lillie Ave corridor.

“This is one of Summerland’s premier properties, both for its location and quality of construction,” Martz said. “We were pleased to obtain a premium price on behalf of our client.”

Deal Type: Mixed-Use Building Sale
Address: 2330 Lillie Ave, Summerland, CA
Square Feet: 4,344 sf building on an 11,761 SF lot
Listed Price: Off-market
Sale Price: Undisclosed
Seller: Unnamed Local Investor
Buyer: Unnamed Local Investor
Seller’s Broker: Michael Martz & Kristopher Roth, Hayes Commercial Group
Buyer’s Broker: Pamela Scott, Lee & Associates

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