California CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors

Topics

New call-to-action
California  + Inland Empire  + Retail  | 

Private Buyer Snaps Up Palm Desert Retail 

CBRE closed the sale of a 44,000-square-foot retail property in Palm Desert to a private San Diego-based investor for $12 million. The firm’s Alan Krueger and Marco Rossetti represented the seller, Wohl Palm Desert LLC, an investment firm based in Orange County. 

Palms to Pines East, located at 72811-72855 Hwy 111 & 72820-72880 El Paseo, is anchored by a Staples and Revivals, a local AIDS charity, and sits across the street from Unibail-Rodamco-Westfield’s Shops at Palm Desert, which it owns with O’Connor Capital Partners. The center is currently 100% occupied. 

“CBRE was able to generate multiple offers the first week, and a buyer was chosen quickly with escrow closing in 30 days at above the listed price,” said Krueger. “Demand for well-located retail centers such as this one is quite high, especially in thriving markets with substantial population growth like the greater Inland Empire region.”

Connect

Inside The Story

CBRE's Krueger

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
New call-to-action
Colliers-59-cube