Hanley Arranges Retail Pad Sale in Palm Desert

Hanley Investment Group Real Estate Advisors arranged the sale of a new construction, multi-tenant retail pad at Monterey Crossing, a newly developed shopping center at the Interstate 10 and Monterey Avenue interchange in Palm Desert. The sale price was $6.34 million.  

This transaction marks the fifth retail pad building Hanley Investment Group has sold at Monterey Crossing, totaling a combined 25,430 square feet and approximately $27 million. EVPs Bill Asher and Jeff Lefko represented the developer and seller, Fountainhead Development of Newport Beach, in all five retail investment transactions. 

The most recent transaction was a 2022-construction, 100%-leased, 8,370-square-foot multi-tenant retail pad building, occupied by a mix of internet-resistant tenants that include Jersey Mike’s Subs, Nekter Juice Bar, Roll-Em-Up Taquitos, Keith Alexander, DDS and Mathnasium. The buyer, a private investor from Los Angeles, was represented by Yoram Katz of Peak Commercial in Woodland Hills. 

Hear from retail CRE leaders like CenterCal Properties, Chief Executive Officer, Paul Kurzawa. Network with top retail owners, brokers, and investors at Connect Retail West on November 16 at the Luxe Sunset Blvd Hotel.