Montecito's historic Old Firehouse sold for $16 million
June 14, 2013

On the same day a residential real estate forecast was being held at the Cabrillo Arts Pavilion, the sale of a historic retail building in Montecito generated its own attention on the commercial side. 

On Thursday, Studley National Retail Services Group in Los Angeles said the Old Firehouse at 1486 East Valley Road has been sold for approximately $16 million, or roughly $2,500 per square foot.
Studley represented both the seller, 1486 East Valley Road LLC, and buyer, US 3N LLC, an international fund with a domestic operating partner, in the transaction.