REBusinessOnline

Paragon Commercial Group Sells Walmart Property in Palm Desert for $13.5 Million

PALM DESERT, CALIF. — Paragon Commercial Group has sold a single-tenant, 45,648-square-foot, Walmart-occupied property in Palm Desert. A private investor from Chicago acquired the property for $13.5 million.

William Bauman, Kyle Miller and Matthew Schwartz of Newmark Knight Frank represented seller in the transaction while Mike Mintz of Millennium Properties represented the buyer.

The property sold at a cap rate of 5 percent and a price per square foot of approximately $296. The triple-net leased asset is situated on 5.37 acres at 72314 Highway 111.

Content Partners
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Walker & Dunlop

Subscribe to the newsletter
Conferences


Webinars on Demand


Read the Digital Editions

Northeast Multifamily & Affordable Housing Business

Midwest Multifamily & Affordable Housing Business

Western Multifamily & Affordable Housing Business

Texas Multifamily & Affordable Housing Business

Southeast Multifamily & Affordable Housing Business

Heartland Real Estate Business

Northeast Real Estate Business

Southeast Real Estate Business

Texas Real Estate Business

Western Real Estate Business

Shopping Center Business

California Centers

Student Housing Business

Seniors Housing Business

Featured Properties