The Mart of Milk and Honey

I always want to say to people who want to be rich and famous: 'try being rich first'. See if that doesn't cover most of it. There's not much downside to being rich, other than paying taxes and having your relatives ask you for money. But when you become famous, you end up with a 24-hour job.

Bill Murray

The ambitious go to Los Angeles to be rich and famous. The rich go to Montecito to be idle. If you’re ok settling for rich, Montecito is a spectacular place, and Jim Rosenfield’s Montecito Country Mart is a spectacular place to be idle.

The two buildings at the core of Montecito Country Mart have a curious position at the front door of a Von’s Pavilion grocery store, in an area typically reserved for a parking lot. The parallel 11,000-ish square foot rectangular buildings are simple - typical late-midcentury California town & country-style strip center construction.

In addition to the charming Dutch doors, what makes Montecito Country Mart wonderful is Mr. Rosenfield’s jeweler’s eye for retailers.

His country marts are equal parts frivolity, convenience, and Americana.

Potted boxwoods, hand-painted hanging signs, and strung lights add charm.

His country marts are outfitters for the leisure class.

I’m curious as to how the shop buildings got placed where they are - it’s like the grocer lost a bet with the developer.

Montecito Country Mart runs on rich people. They’re everywhere.

A bit of insight into Mr. Rosenfield’s approach:

Coastal California weather doesn’t hurt - it’s Mr. Rosenfield’s leverage:

He found the type of partners unconcerned with a quick flip, providing him the time required to create something special.

Ephemera purveyors like Mate Gallery attract money spenders.

Cute kids appear around the property as if they’re props.

Bettina is a splendid and casual affair, suitable for rich and tan people wearing crisp oxfords, Tod’s driving loafers, and oversized sunglasses - or former techies in flip flops and hoodies.

The point of all this fussiness: astounding rents.

Example:

*and don’t forget the 5% annual increases and a share of the tenant’s sales in the form of percentage rent.

Country life is good life when you’re Mr. Rosenfield.

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