John Bucksbaum Of Bucksbaum Properties Acquires Mixed-Use Campus In Palm Desert For $25.75M

Bucksbaum Properties, LLC acquired an 86,835-square-foot, three-building mixed-use office campus located at 74-199 El Paseo, 74-225 & 74-245 Highway 111 in Palm Desert for $25.75 million, equating to $297 per square foot. The property is anchored by financial and real estate tenants and presents value-add opportunities through the lease-up of vacancies, rent adjustments, and potential redevelopment under its flexible zoning.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $25,750,000
• Address: 74-199 El Paseo, 74-225 & 74-245 Highway 111
• Market: Palm Desert
• Square Footage: 86,835
• Price per Square Foot: $297
• Buyer: John Bucksbaum - Bucksbaum Properties
• Brokerage: Kevin Shannon, Scott Schumacher, Ken White & Rick Reeder - Newmark

The acquisition was arranged by Newmark, with key representatives including Kevin Shannon, Scott Schumacher, Ken White, and Rick Reeder. The transaction highlights the involvement of Bucksbaum Properties, which is focused on enhancing the commercial real estate assets within its portfolio.