Hanley Investment Group Brokers $3.9M Sale of Multi-Tenant Retail Pad in Palm Desert, California

Hanley Investment Group Brokers $3.9M Sale of Multi-Tenant Retail Pad in Palm Desert, California

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PALM DESERT, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the sale of a multi-tenant retail property located at 39575 Washington St. in Palm Desert. A Los Angeles-based private investor sold the asset to a San Diego-based private 1031 exchange investor for $3.9 million.

Bill Asher and Jeff Lefko of Hanley Investment Group represented the seller, while Omar Hussein of Del Mar-based Beacon Realty Advisors represented the buyer in the deal.

Built in 2008, the 8,500-square-foot retail property offers four tenant suites. At the time of sale, the property was fully occupied by Chipotle Mexican Grill (under a new 10-year, triple-net, corporate lease), Cornerstone Pharmacy, Luxury Nails & Spa and Keller Williams Realty Coachella Valley | Jelmberg Team.

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