Ollo restaurant listed for sale as owners cite mounting costs

By Barbara Burke · Sun Jul 19 2026

Owner/head chef says its becoming more difficult for small businesses to survive in Malibu

The owners of Ollo have placed the restaurant for sale as a going concern, inclusive of all furniture, fixtures, and equipment, including a commercial kitchen and a transferable Type 47 liquor license. The 3,598-square-foot, 94-seat dining space features indoor and outdoor dining, a full-service bar, and an outdoor patio.  

The business is listed as an unpriced opportunity, but some financial online sites such as BizBuySell.com value the asset at $1.5 million, noting that a non-disclosure agreement is required for interested buyers to view full financial information. Providing further details, BizBuySell describes Ollo as a “turnkey restaurant and bar that is fully operational,” and notes that “an average of 45,000-plus vehicles pass by it per day.”  

The Malibu Times caught up with an Ollo partner and the restaurant’s head chef to discuss what’s going on.

History of Ollo 

In 2015, then owner Nate Heydari closed the iconic Coogie’s Beach Cafe that had been beloved by locals for more than two decades and rebranded the space under the name “Ollo,” a portmanteau Heydari created by combining the first two letters of his son’s name and the last two letters of his daughter’s name. The venue became popular and was quite successful, even helping to buoy Malibu with take-out food during the COVID pandemic. 

Ultimately, Heydari sold the restaurant to head chef Antonio De Cicco and other investors in 2024, and since then, Ollo has served breakfast, lunch, and dinner, featuring California cuisine as well as artisan handmade pasta dishes and pizzas.Ollo also offers a happy hour, a brunch, and a full bar. The restaurant continues to receive complimentary reviews on social media sites. 

When the out-go exceeds the income, the upkeep can become a downfall

So, why sell?  De Cicco’s all-too-familiar response from local small business owners focusing on two factors: a marked decline in customer flow and very expensive leasing costs. He noted that his lease costs $40,000 per month, although the landlord is accepting half payments for the moment. 

According to de Cicco, the current situation means that continuing to conduct his business is not sustainable due to declining patronage attributable to the reduced Malibu population attributable to the Palisades Fire and the reality that many out-of-town visitors are chary to drive to Malibu because of the lower speed limits and congestion on Pacific Coast Highway.

“At the end of the day, the Palisades Fire was the biggest disaster that Southern California has ever seen,” De Cicco lamented. “Speaking on behalf of myself, and after speaking with other Malibu small business owners, I was astonished at how the government has handled the fires. It never seriously addressed our effort to run a business after the wildfires and lengthy Pacific Coast Highway closure, but all are aware that PCH was closed and that people are leaving Malibu — we lost an extreme amount of residents in Malibu — it is very upsetting for me because I have worked 30 years in the restaurant business.”

'The place sells itself if there are people to buy'

Customer flow problems are affecting all local small businesses, De Cicco opined. He stated, “I understand that Ralphs has reduced its hours and is possibly leaving after the summer and it’s only a matter of time before other small businesses in Malibu will close if the governments, both state and local, are not more supportive and the landlords are not more flexible. Ultimately, I may leave California.”

Comparing his current business experience to the Myth of Sisyphus, de Cicco noted that without more customer flow, the restaurant cannot recover. “I owe $40,000 but have been paying one-half per month — there are only so many hours I can work — that my body and my mind can produce revenue.”

Dejected and worried, he added, “Where is the sense of community? This is why a lot of people are leaving California. Ultimately, I may leave California, too. I work seven days a week. The place sells itself if there is someone to buy it.There is not enough customer flow.

“I think I’m living a nightmare — my California dream has become a nightmare! Having Ollo was my biggest dream thatI worked to accomplish for thirty years and it became a nightmare. I go to work everyday and I lose money — not because Ollo is not doing well — there are not enough people and there is not enough access to Malibu for visitors.”

Del Cicco also noted that some of his colleagues who moved their business to Newport, “have no customer flow problems — there, the restaurants are full of people with smiles on their faces.” He opined that Malibu’s current deflated financial milieu is negatively affecting customers who do go into his restaurant, stating, “I deal with people visiting Ollo who are having to pay mortgages on homes they cannot live in, and I feel so badly for them.” 

Concluding, he added, “I don’t think it’s fair that the biggest companies are the only ones who can survive. This challenge is not a red or blue political issue, rather we all need to focus on it and finding solutions is just common sense.”