The Old Firehouse office building, located in the heart of Montecito’s Upper Village at 1486 East Valley Road, was recently sold to an unnamed buyer. Its ultimate selling price was undisclosed, but the property originally listed for $16 million. “Commercial property in Montecito very rarely changes hands, especially in the Upper Village, which makes pricing a trophy asset like this an interesting challenge” said Hayes Commercial Group associate Caitlin McCahill Hensel, who co-represented all parties in the deal.
The historic landmark served as the region’s primary firehouse when it was built in 1931 by architect Alexander Bertrand Harmer, who also designed the Montecito Inn and one of Hope Ranch’s original 13 houses. Union Bank is currently leasing the 6,357-square-foot space and has about nine years remaining.