NAI Capital Completes 32,250 SF Warehouse Investment Sale in Palm Desert, CA
Palm Desert, CA – April 16, 2019 – Senior Vice President Lynn Coker with NAI Capital completed the investment sale of a 32,250 square foot warehouse in Palm Desert, California. Lynn, represented the seller in the transaction. The buyer was a private investor. The property sold for $3,600,000, or $110/SF.
The property is location at 77550 Enfield Lane in the Country Club Business Park, west of Washington Street off Country Club Drive. The two story building is situated on 1.60 acres of land on Enfield Lane in a prime location within the East Inland Empire industrial submarket. The Southern Pacific railroad runs directly to the north of the property along the 10 freeway. The concrete tilt-up building was constructed in 1990. It has 24 foot clear height and features a 4,800 square foot office. There are 23 parking stalls on an 11,000 square foot private parking lot. The site has very good ingress and egress functionality. At the time of the sale the warehouse was 100% leased.
Lynn said, “This is a great triple-net investment opportunity for the new buyer. The tenant is a solid established Coachella Valley business on a 10-year lease. The project is in outstanding shape providing minimal management for the new owner.”
About NAI Capital
NAI Capital is the largest independently owned full service commercial real estate firm headquartered in Southern California. As one of the largest members of NAI Global, the premier managed commercial real estate service network with 400 Offices and 7,000 market leaders spanning the globe, NAI Capital provides a complete range of transaction, valuation, investment, property management and consulting services. By leveraging our local expertise with our global reach, NAI Capital offers innovative, customized solutions and seamless service to owners, tenants, investors and developers throughout Southern California. NAI Capital clients have built their businesses on the power of our expanding network. We are a dynamic growing commercial real estate company. At NAI Capital we work together putting our clients first.
NAI Capital Brokerage CA BRE #01990696.
To learn more, visit www.naicapital.com.
About NAI Global
NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 400 offices strategically located throughout North America, Latin America, Europe, Africa and Asia Pacific, with over 7,000 local market professionals, managing in excess of 425 million square feet of property. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions throughout the world.
NAI Global provides a complete range of corporate and institutional real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain and logistics consulting and related advisory services.
To learn more, visit www.naiglobal.com.
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