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Milan Capital Management Acquires One Eleven La Quinta Center In La Quinta For $35M

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SOLD
$35,000,000

California

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Retail154,383 SF
Sold 06/29/2022
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Property Image
SOLD

Milan Capital Management Acquires One Eleven La Quinta Center In La Quinta For $35M

78950 California Highway 111

See Similar Deals
Retail154,383 SF
Sold 06/29/2022
Contact now

Summary

CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$226
Total Square Footage:154,383 SF
Transaction Type:Sale

The One Eleven La Quinta Center, located at 78950 CA-111 in La Quinta, has been sold in a recent transaction. The retail property, spanning 154,383 square feet, was sold for a total price of $35,000,000. The sale price equates to approximately $226 per square foot.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $35,000,000
  • Address: 78950 CA-111 - One Eleven La Quinta Center
  • Market: La Quinta

The buyer of the property is Milan Capital Management, while the seller is Shovlin Companies. The transaction was facilitated by brokers Chris Tramontano and John Redfield from SRS Real Estate Partners.

Players

Chris Tramontano
6 deals$82.9M volume(949) 698-1112
BROKER

John Redfield
SRS Real Estate Partners
13 deals$557.8M volume
BROKER

BUYER

Details

SOLD
IMAGE: POST SALE IMAGE: Chris Tramontano & John Redfield DATE: 06/29/2022 ADDRESS: 78950 CA-111 - One Eleven La Quinta Center MARKET: La Quinta ASSET TYPE: Retail BUYER: Milan Capital Management SELLER: Shovlin Companies BROKERS: Chris Tramontano & John Redfield - SRS Real Estate Partners SALE PRICE: $35,000,000 SF: 154,383 ~ PPSF: $226

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,866,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$124,347.60
Cash-on-Cash Return-1.27%
Monthly Debt Service$165,917.86
Annual Debt Service$1,991,014.27