Hanley Investment Group Real Estate Advisors recently facilitated the sale of a fully occupied, multi-tenant retail pad property in Palm Desert. The property, located near the Interstate 10 freeway Washington Street on/off ramp and anchored by a new Chipotle Mexican Grill with a drive-thru “Chipotlane,” sold for $3.86 million.
EVPs Bill Asher and Jeff Lefko expertly represented the seller, a private investor based in Los Angeles. On behalf of the buyer, an experienced 1031 exchange investor from San Diego, Omar Hussein of Beacon Realty Advisors in Del Mar provided representation.
According to Asher: “We successfully secured an all-cash buyer through our extensive network and negotiated favorable terms including a short due diligence period and timely closing to accommodate their exchange requirement.”
Built in 2008 on 1.01 acres within Coachella Valley’s bustling commercial district, this four-tenant retail pad boasts approximately 8,500 square feet of leasable space. In addition to Chipotle’s prominent presence occupying nearly half of the building with their newly signed triple-net corporate lease agreement spanning ten years; other tenants include Cornerstone Pharmacy , Luxury Nails & Spa , as well as Keller Williams Realty Coachella Valley | Jelmberg Team .
This recent transaction further exemplifies Hanley Investment Group Real Estate Advisor’s expertise within Southern California’s competitive real estate market – specifically when it comes to facilitating successful transactions involving high-profile properties such as this one without compromising any aspect or detail that may impact its value or desirability among potential buyers.
