The Post Montecito Sold for $56 Million to Asana Partners
A prominent retail property along Santa Barbara’s coastline, The Post Montecito, has been sold to Charlotte-based Asana Partners for $56 million, according to a report from edhat.com. The deal, finalized on March 18, 2026, signifies a substantial increase in value since Runyon Group’s acquisition of the property in 2022.
From Las Aves to The Post: A Redevelopment Success
Runyon Group initially purchased the property, then known as Las Aves, for $19.25 million in the spring of 2022. As reported by sitelinesb.com, Runyon Group collaborated with MGMT Partners to redevelop the site into The Post, a curated retail destination. This transformation has demonstrably increased the property’s worth, with the recent sale price reflecting a significant return on investment.
Asana Partners’ Expansion and Future Plans
Asana Partners, a retail real estate investment firm with a portfolio of 72 “neighborhoods” across 24 cities, is the new owner of The Post Montecito. According to The Registry, while Asana Partners’ specific plans for the property remain undisclosed, the economics suggest a potential focus on attracting larger, more prominent tenants.
Property Details and Valuation
The Post Montecito spans 36,866 square feet, resulting in a price of approximately $1,519 per square foot. Edhat.com notes this pricing reflects the strong value of coastal commercial properties in desirable locations. The deal was brokered by JLL, with Geoff Tranchina, Gleb Lvovich, and Daniel Tyner representing the parties involved.
The Post Montecito: A Gathering Place for the American Riviera
Characterized as a “gathering spot for the American Riviera,” The Post Montecito features over a dozen specialty and high-end stores, cafes, and restaurants. The Post Montecito’s website details its six historically preserved buildings situated on a private lane, conveniently located near the Santa Barbara coastline.
Recent Additions to The Post Montecito
The retail center has recently welcomed several new businesses, including Milan-based clothing brand Eleventy and swimwear brand Malia Mills. Popular dining destinations within The Post Montecito include Ospi Montecito and Little King Coffee. The center also hosts events such as food pop-ups, family programming, and artisan marketplaces.
Runyon Group to Continue Leasing and Management
Sitelinesb.com reports that Runyon Group will continue to handle leasing, property management, and marketing for The Post, ensuring a smooth transition under new ownership.