Updated Sep 23, 2026
Edgemark Acquires Mixed-Use Property From David Park In Palm Desert For $11 Million
73-255 El Paseo
$11,000,000
$440/SF
Building Size
25,000 SF
Asset Type
Mixed-use
Closing
Sep 8, 2026
About this deal
AI
This transaction involved a mixed-use retail and office property located at 73-255 El Paseo in Palm Desert, CA. The asset was sold for $11,000,000, encompassing a total square footage of 25,000, which translates to a price per square foot of $440.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $11,000,000
- Address: 73-255 El Paseo
- Market: Palm Desert
- Square Footage: 25,000
- Price per Square Foot: $440
- Buyer: Edgemark
- Seller: David Park
- Brokers: Nick D'Argenzio & Thomas Chichester - BLVD Real Estate Investment Co.
BLVD Real Estate Investment Co. played a key role in facilitating the sale of this high-profile property, known as "Main & Main," which is situated along El Paseo, often referred to as "the Rodeo Drive of the Desert."
Players
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
1.44%
Cash-on-Cash
-0.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93