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Piece of La Quinta shopping center sold

Part of a retail community center in La Quinta has been sold for $35 million.

Milan Capital Management, a real estate investment company in Orange, purchased 154,383 square feet of One Eleven La Quinta Center, according to SRS Real Estate Partners’ Investment Properties Group in Newport Beach.

The seller was a private family office in the Coachella Valley. A family office is a wealth management advisory firm that serves extremely wealthy individuals and property owners.

Tenants that were part of the property sale include Ross Stores, Staples, Petco and Big 5 Sporting Goods.

SRS Real Estate is the exclusive leasing agent for One Eleven La Quinta Center, which is at 78959 Highway 111.

This is the first sale involving the retail facility, which was built between 1992 and 2002. It covers 852,465 square feet and sits on nearly 20 acres.

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