NAI Capital Completes $5.3 Million Sale of Retail Showroom in Rancho Mirage, CA
Rancho Mirage, CA, Wednesday, August 31, 2016– Senior Vice President Jeffrey Simonds with NAI Capital represented the buyer FM 111, LLC on the purchase of a 15,000 square foot retail showroom in Rancho Mirage, Calif. The seller was Thomas Realty Company. The sale price was $5,300,000 million or $412.80 per square foot.
The property located at 71441 Highway 111 was fully leased to Electric Car Distributors at the time of the sale. The overall property sits on 165,528 square feet of land. The property is on a prime thoroughfare on Highway 111 and Indian Trail Road. Over 31,213 cars pass by the property daily.
Simonds said, “This investment provided my client the rare opportunity to purchase prime retail on Highway 111, with expansion potential on 2 acres of excess land.”
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 375 offices and 6,700 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 #00806840.
To learn more, visit www.naicapital.com.
About NAI Global
NAI Global is the single largest, most powerful global network of owner-operated commercial real estate brokerage firms. NAI Global provides a full range of corporate 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. NAI Global Member firms, leaders in their local markets, are actively managed to work in unison and provide clients with exceptional solutions to their commercial real estate needs. Founded in 1978, today NAI Global has more than 375 offices strategically located throughout North America, Latin America, Europe and Asia Pacific, with over 6,700 local market professionals, managing over 380 million square feet of property. Supported by the central resources of the NAI Global network, Member firms deliver market-leading services locally and combine their in-market strengths to form a powerful bond of insights and execution for clients with multi-market challenges.
NAI Global was acquired in 2012 by C-III Capital Partners, a leading commercial real estate services company engaged in a broad range of activities, including primary and special loan servicing, loan origination, fund management, CDO management, principal investment, online capital markets, title services and multifamily property management. C-III’s principal place of business is located in Irving, TX, with additional offices in New York, NY, Greenville, SC and Nashville, TN.
To learn more, visit www.naiglobal.com.
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