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73-199 El Paseo

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

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

73-199 El Paseo

$25,750,000

$296/SF

Building Size

86,835 SF

Asset Type

Mixed-use

Closing

Mar 25, 2026

AI

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:

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.

Players

Ken White

Newmark

Broker

$6.1B

vol

96 deals

Broker

John Bucksbaum

Bucksbaum Properties

Buyer

$52.9M

vol

2 deals

Buyer

Palm Desert Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.62%

Cash-on-Cash

-0.18%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93