Ten buildings at One Eleven La Quinta Center have sold for $35 million to Milan Capital Management in Anaheim, according to SRS Real Estate Partners’ Investment Properties Group.
The retail center built in La Quinta between 1993 and 2007 sits on 12.95 acres at Washington St at Route 111.
SRS Senior Vice Presidents Chris Tramontano and John Redfield represented the seller, a Coachella Valley-based family. The buyer represented itself.
Tenants in the center that were part of the property sale include Ross Stores, Staples, Petco, Big 5 Sporting Goods, among others. The center is “shadow” anchored by tenants that include Stater Bros, Hobby Lobby and Kohl’s.
“… The seller was ready to pass the baton to a great Southern California operator. This transaction had its challenges and many moving pieces, fortunately, all outside of the high-quality real estate that was purchased,” Redfield said.