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PALM SPRINGS, CALIF. — Marcus & Millichap has brokered the sale of Sunrise Center, a retail center located at 100 S. Sunrise Way in Palm Springs. The property sold for $10.2 million, or $206 per square foot.
Renovated in 2009, tenants include Fresh & Easy Market, VIP Urgent Care, Palm Liquors, Power of Fitness and Regal Cleaners. At the time of sale, the property was 96 percent leased.
Jack Hopkins and Matthew Hardke of Marcus & Millichap represented the buyer, an investor in an 1031 exchange, while Gregory Mills and Dave Lincoln, also of Marcus & Millichap, represented the undisclosed seller. Sharone Sabar of Marcus & Millichap arranged debt placement for the acquisition.