Desert CrossingPalm Desert
Desert Crossing, the Coachella Valley's only major power center sold to an individual for $65,600,000 in January 2003 . Ownership wanted to strengthen the tenancies within the Center and do it quickly.
Maggie Montez of CB Richard Ellis reviewed the Center's opportunities and was able to complete three major leases; Pier One, Old Navy and David's Bridal. The resulting anchor leases allowed Ownership to put Desert Crossing back on the market during a hot commercial real estate market.
Desert Crossing
The End Result
Desert Crossing sold in July 2004 for $85,000,000 creating a profit to CB Richard Ellis' client.
