Updated Oct 28, 2024
Milan Capital Management Acquires One Eleven La Quinta Center In La Quinta For $35M
78950 California Highway 111
$35,000,000
$226/SF
Building Size
154,383 SF
Asset Type
Retail
Closing
Jun 29, 2022
About this deal
AI
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.
On the Map
$35,000,000
$226/SF
Retail
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Players
La Quinta Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.45%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93