QAD’s Santa Barbara Campus Reportedly Sold to University of California

The 29-acre former QAD campus — which stands atop a hillside bluff overlooking the 101 and the ocean between Montecito and Summerland — was reportedly sold for over $100 million to the University of California in a deal that was finalized last week, according to a deed filed with the county assessor’s office.

QAD, a software company that vacated the campus when its operations went to a “virtual-first model,” had put the property on the market in May. The two buildings situated at the end of Innovation Place include over 122,000 square feet of fully operational office space.

According to the grant deed, which was signed on June 23, the sale was for an estimated $104 million, with a documentary transfer tax total of $114,440. The property was officially acquired by UC Investments, which handles the investment portfolios for the University of California.