IE Business Daily Business news for the Inland Empire.
A residential retail property in downtown Palm Springs has been sold for $7.3 million.
New Dawn Enterprises LLC purchased the 21,000-square-foot parcel at 803 N. Palm Canyon Drive from 803 N. Palm Canyon Holdings, according to CBRE’s Ontario office.
“This was … a buyer who truly appreciates the opportunity of the location and quality of this property in downtown Palm Springs,” said Eric Chen, executive vice president at CBRE, in a written statement.
CBRE represented the seller in the negotiations.
The property consists of 12 two-bedroom units, all of which resemble townhouses. All have a patio or balcony, and all but one have a loft.
The complex also includes nearly 3,500 square feet of retail space, all of it occupied, on its ground floor, according to the statement.
