Faris Lee Investments Represents Sage Investments In $6.1M Retail Sale In Palm Desert

A retail property located at 72310 CA-111 in Palm Desert has been sold for $6,100,000. The asset spans 7,400 square feet, translating to a price per square foot of $824. This two-tenant property is leased to SchoolsFirst Federal Credit Union and T-Mobile, contributing to its investment appeal.

Summary of transation details:

• Property Type: Retail
• Transaction Amount: $6,100,000
• Square Footage: 7,400
• Price per Square Foot: $824
• Market: Palm Desert
• Seller: Sage Investments
• Buyer: Southern California private investor
• Brokers: Chris DePierro, Jeff Conover, Don MacLellan, Scott DeYoung & Greg Lukosky - Faris Lee Investments

The transaction was facilitated by Faris Lee Investments, who represented the seller, Sage Investments. The buyer engaged in a 1031 exchange as part of the investment strategy, further highlighting the strategic nature of this acquisition.