Historic Sugar ‘N Spice Frozen Banana Business on Balboa Island Listed For Sale

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Sugar and Spice / photo courtesy of Sugar and Spice

For nearly 80 years, locals and visitors to Balboa Island have lined up to purchase a frozen banana at Sugar ‘n Spice on Marine Avenue.

Founded in 1945, Sugar ‘n Spice has been family run since 1995 when Helen Connolly purchased the brand and became the shop’s third owner. After becoming ill, Helen passed the business down to her daughter Courtney Alovis in 2015. Since then, Courtney and her husband Will have owned the business.

The couple have added innovative elements to the business starting in 2018 when they added a catering truck to take their frozen desserts to parties, weddings and charity events. In 2020 they added online ordering followed by nationwide deliver in 2021.

“Sugar ‘n Spice has been a favorite haunt of the Kardashians and other celebrities, and tourists can’t get enough of the unique desserts showcasing frozen bananas dipped in chocolate and rolled in toppings.

And now, the big news: Sugar ‘n Spice has been listed for sale.

The historic company’s mixed-use space at 310 Marine Ave. has hit the market for $3.49 million, and is being sold alongside the Sugar ‘n Spice business, listed for $1.5 million. Both sales are contingent upon the other selling.

Courtney and Will Alovis with their Sugar ‘n Spice truck / Photo courtesy of Sugar ‘n Spice

“After 29 years, our family is ready to pass the banana (pun intended) to the next family to carry on the tradition of serving smiles and memories,” said Will and Courtney Alovis in a press statement. “We look forward to coming back many, many times as customers, to continue to enjoy our favorite treats. May Sugar ‘n Spice bring as much joy to their family as it has to ours.”

As a final sendoff and thank you to the greater community, Sugar ‘n Spice owners Will and Courtney Alovis hosted a free frozen banana giveaway on February 8.

Annie Clougherty of Compass is the real estate agent listing the businesses.

“Growing up, everyone has that iconic memory of what made them cherish their childhood,” said Clougherty. “If you want to own an iconic piece of Newport Beach that reminds not only you but the world of Balboa Island, now is your time.”

For more information, visit https://sugarnspicebalboaisland.com.

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