PRCP Acquires Shops at Palm Desert in California, Plans Mixed-Use Mall Redevelopment

PALM DESERT, CALIF. — Pacific Retail Capital Partners (PRCP) has purchased The Shops at Palm Desert, a nearly 1 million-square-foot enclosed shopping mall in the Coachella Valley city of Palm Desert. Terms of the transaction were not released.

PRCP plans to create a master plan for the 72-acre property that will transform it into a mixed-use destination and civic gathering place. The company envisions added green space, as well as multifamily and entertainment space.

Situated in Palm Desert’s Highway 111 corridor, The Shops at Palm Desert was built in 1982 and renovated in 2013. Current tenants include JCPenney, Macy’s, Dick’s Sporting Goods and Barnes & Noble.