QAD Property Sells

In a quiet off-market sale that closed last week, QAD’s 28-acre blufftop site in Summerland has reportedly sold to the University of California for over $100M. 

Once utilized in off-hours by nonprofits in the area for large-scale events, the property boasts impressive coastline views and was fairly open to the public for sunset viewing. Speculation online as to what the property will be used for ranges from corporate events, research facilities and conferences, to campus extensions, satellite housing for students, and a destination for donors. 

The University of California has yet to confirm the purchase, nor release how the campus will be utilized. Software company QAD has owned the property since 1999. The company announced earlier this year its intent to sell the property as the majority of its workforce remained working in remote positions.