Shiraz Rug Co. Expands Operations With Purchase Of Retail Building In Palm Desert For $1.8M

A retail building located at 74210 Highway 111 in Palm Desert, part of the Downtown Edge District, has been sold for $1,800,000. The property spans 5,000 square feet, which translates to a price per square foot of $360.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $1,800,000
• Buyer: Shiraz Rug Co.
• Broker: Heather Sharp - Progressive Real Estate Partners
• Building Size: 5,000 SF
• Price Per Square Foot: $360
• Market: Palm Desert

The transaction was brokered by Heather Sharp of Progressive Real Estate Partners. The buyer, who owns the neighboring Shiraz Rug Co., intends to expand operations into the newly acquired space.