SRS Real Estate Partners’ Investment Properties Group has completed the $35 million sale of a 154,000-square-foot portion of the 852,000-square-foot One Eleven La Quinta Center, in La Quinta, CA. The highly successful shopping center is located at one of the busiest intersections in the Coachella Valley, visible to over 70,000 cars a day.
SRS Senior Vice Presidents Chris Tramontano and John Redfield represented the seller, a local private family office. The buyer was Anaheim, CA-based Milan Capital Management. Terrison Quinn and Casey Mahony of SRS Real Estate Partners are the asset’s leasing agents.
“The sale of One Eleven La Quinta Center was a very complex transaction with several obstacles to overcome, including multiple loans on different portions of the property in a rising interest rate environment. I’m proud of our investment sales and leasing teams for coming together and providing excellent execution for both the seller and the buyer,” said Tramontano.