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College Station, LLC & 1331 S. Mission Rd., LLC Acquire Retail Condo On Hwy 111 In Inland Empire/Coachella Valley

74600-74520 Highway 111
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This Retail property located in CA was sold for $8,911,000 over 4 years ago. The broker of the deal was Pablo Rodriguez

Located in the Inland Empire/Coachella Valley market, this retail condo at 74600-74520 Hwy 111 was recently sold. The property spans 16,939 square feet and consists of 11 units. The transaction was completed on 12/23/2019.

Summary of Transaction Details

  • Property Type: Retail Condo
  • Transaction Amount: $8,911,000
  • Price per Square Foot: $526.06
  • Units: 11
  • Price per Unit: $810,090
  • Buyer: College Station, LLC & 1331 S. Mission Rd., LLC
  • Seller: Howard Abel Trust
  • Broker: Pablo Rodriguez - NAI Capital

Pablo Rodriguez of NAI Capital represented both the buyer and the seller in this transaction. The property is fully occupied and features a variety of tenants, including Starbucks, Panda Express, Fantastic Sams, and Dominos Pizza. This sale achieved a record pricing for multi-tenant retail properties in the Coachella Valley/Inland Empire market.

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Deals
  • Location
    74520 State Highway 111, Palm Desert, CA, USA74520 State Highway 111, Palm Desert, CA, USA
  • Sale Price
    $8,911,000$8,911,000
    $526 PPSF$526 PPSF
  • Area
    16,939 SF16,939 SF
  • Asset Type
    RetailRetail
  • Parties
    1 Broker, 1 Agency1 Broker, 1 Agency

Agent

Pablo Rodriguez

Pablo Rodriguez

Deals5
Sold$38.3M

Agency

Newmark

Newmark

Agency
Deals3894
Volume$397.4B

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Deal Summary

SALE IMAGE: Pablo Rodriguez @pabloescrowbarr DATE: 12/23/2019 ADDRESS: 74600-74520 Hwy 111 MARKET: Inland Empire/Coachella Valley ASSET TYPE: Retail Condo PRICE: $8,911,000 SF: 16,939 PPSF: $526.06 UNITS: 11 PPU: $810,090 BUYER: College Station, LLC & 1331 S. Mission Rd., LLC SELLER: Howard Abel Trust BROKERS: Pablo Rodriguez - NAI Capital NOTES: 100% occupied Albertson's grocery shadow anchored multi-tenant pad buildings occupied by Starbucks, Panda Express, Fantastic Sams, Dominos Pizza and more. Record pricing achieved for multi-tenant retail in the Coachella Valley/Inland Empire. Both parties represented by Pablo Rodriguez of NAI Capital.

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74600-74520 Highway 111

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