Hanley Investment Group Facilitates $3.86M Sale Of Fully Occupied Retail Pad In Palm Desert With Chipotle Drive-Thru

Hanley Investment Group facilitated the sale of a fully occupied retail pad in Palm Desert, California. The property is located at 39575 Washington Street and spans an area of 1.01 acres. The retail pad features a new Chipotle with a drive-thru, adding to its appeal. The transaction took place on December 11, 2023.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $3,860,000
• Square Footage: 8,500
• Price per Square Foot: $454
• Address: 39575 Washington Street, Palm Desert

The sale was facilitated by Bill Asher & Jeff Lefko from Hanley Investment Group, representing the seller. On the buyer's side, Omar Hussein from Beacon Realty Advisors served as the buyer's representative. This transaction marks the 17th Chipotle property sold by Hanley in the past 24 months, highlighting the strong market demand for such properties. Additionally, the retail pad's strategic location near Interstate 10 contributes to its desirability.