IE Business Daily Business news for the Inland Empire.
A retail property in Desert Hot Springs has been sold for $6.1 million.
The 33,000-square-foot site at 13000-13160 Palm Drive is occupied by a multi-tenant shop building and two nearby offsite pads, one of which is occupied by Chase Bank, according to Progressive Real Estate Partners in Rancho Cucamonga.
The property is part of Hacienda Palms, a neighborhood shopping center anchored by a Stater Bros. supermarket.
Progressive represented the buyer, a private investor in Los Angeles County who owns several retail properties in the Coachella Valley. The seller was an Orange County-based investor. Both parties wished to remain anonymous.
In addition to Chase Bank, the shopping center includes a donut shop, ice cream parlor, dentist, hair salon, insurance agency, self-car wash and an automobile repair shop. More than 81,000 residents live within a 15-minute drive of the property, according to Progressive.
