New T.J. Maxx and ULTA Beauty Building Sells within Washington Park Shopping Center Anchored by Target, Lowe’s, Trader Joe’s and ALDI
LA QUINTA, Calif. –- (RealEstateRama) — Hanley Investment Group Real Estate Advisors, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, announced today that the firm completed the sale of a two-tenant retail building occupied by T.J. Maxx and ULTA Beauty at 78-825 Highway 111 in La Quinta, Calif. The 33,708-square-foot pad building is part of Washington Park Shopping Center, which includes major tenants Target, Lowe’s, Trader Joe’s, ALDI, Stein Mart and Century Theatres. The sale price was $8,862,500.
Hanley Investment Group’s Executive Vice President Bill Asher and company President Ed Hanley represented the seller, a private partnership based in Southern California. The buyer, a private investor from Los Angeles, was represented by Steven Gelber of Gelber Realty Corporation in Los Angeles.
Remodeled in 2016, the building is situated on 3.61 acres within the Washington Park Shopping Center at the signalized intersection of Highway 111 and Simon Drive and immediately surrounded by notable retailers ALDI, Chase Bank, Lowe’s and In-N-Out. T.J. Maxx and ULTA Beauty featured two new corporate-backed long-term leases.