L.A. Investors Set Sights on Las Aves Complex
Earlier this year the Las Aves business complex on the corner of E. Cabrillo Blvd, Channel Drive, and Los Patos Way, across from the Andree Clark Bird Refuge, sold to a Los Angeles-based investment group to the tune of over $19M. Now, rumors are swirling that the group, called the Runyon Group, have big plans to remodel the complex and bring in a fresh group of tenants to appeal to a younger demographic, according to a source close to the transaction.
The Runyon Group most recently completed a popular shopping, eating, and lifestyle destination in Culver City in Los Angeles, called Platform LA. The project recently welcomed Santa Ynez General as a holiday pop-up; the flagship Santa Ynez General shop is located in Santa Ynez, with a pop-up currently in Montecito’s Upper Village. The collection of shops also includes about a dozen other independent retail brands and a handful of eateries. A membership component offers free valet parking, event invites, early access to sales, and discounts at shops and restaurants.
No word yet on specific plans or timeline for Las Aves; it’s rumored the shopping and eating destination will be called The Post Montecito. With a new roundabout being built on the corner, and the location near the sensitive habitat that is the Bird Refuge, we surmise it could take many years to come to fruition. Current tenants at Las Aves complex include Loul Dental Studio, Aesthetics Montecito, Points of Health, Beautiful You, and several other medical and office tenants.
The complex is located at 1805 East Cabrillo Blvd.