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10/01/25
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A portfolio of two Whole Foods-anchored properties in desirable, affluent SoCal locales has been offered for sale at a combined asking price of $145 mil. The assets are located in Santa Barbara and malibu -- two of the most supply-constrained coastal markets in the state.
In Santa Barbara, the freestanding Whole Foods at 3761 State St is offered at $57.5 mil. The property underwent a full interior remodel in 2022, followed by an exterior renovation in 2023. The store sits adjacent to a planned 680-unit mixed-use housing development underway at the former Macy’s site.
23401 Civic Center Way, Malibu, CA |
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The other Whole Foods is an anchor tenant at The Park at Cross Creek in Malibu’s Civic Center. It is offered at $87.5 mil. Built in 2019, the shopping center is 100% leased to a curated mix of high-profile tenants—including Tesla, Blue Bottle Coffee, and Prince St. Pizza, along with multiple spa and wellness brands. Located at 23401 Civic Center Way, minutes from the Malibu coastline, the center serves as Malibu’s premier open-air retail destination and functions as a vibrant community hub in one of the nation’s wealthiest communities.
Tanel Harunzade and Darrell Levonian are representing the owner of both properties. Attractive below-market seller financing is being made available.
“These are generational assets that combine the strength of Whole Foods with premier coastal locations,” said Harunzade, Executive Vice President at Kidder Mathews. “Santa Barbara’s only Whole Foods and Malibu’s flagship store each draw from exceptional demographics, and both properties benefit from significant barriers to entry.”
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