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Albertsons NNN-Leased Asset Trades in Palm Desert
A single tenant net leased Albertsons property located at 74590 CA-111 in Palm Desert, CA has sold for $15.1 million. The 62,462-square-foot retail property is positioned along Highway 111, the main east-west traffic corridor between Palm Springs and La Quinta.
Wilmette, IL-based The Boulder Group’s Randy Blankstein and Jimmy Goodman represented the unnamed seller in the transaction, a private real estate investment company based in the southwest. The buyer was an undisclosed high net worth repeat 1031 investor.
Blankstein says, “The market for standalone grocery properties remains active, as investors are attracted to the superb locations these types of properties are located in.”
Goodman, added, “This asset sold in record time due to the strong sales history, low rent and the tenant’s long-term commitment to the location.”
Albertsons has 20 years remaining on its lease, and the property was recently renovated in 2015.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition




