Cushman & Wakefield arranges two separate transactions on behalf of seller, Donahue Schriber Realty Group L.P.
Cushman & Wakefield today announced the sale of Smoke Tree Commons and Smoke Tree Village, two premier grocery-anchored, community retails centers closely situated to one another in Palm Springs. Cushman & Wakefield’s Southern California retail brokerage team of Pete Bethea, Rob Ippolito, and Glenn Rudy, represented the seller, Donahue Schriber Realty Group L.P. and procured the buyer in the investment sale.
“The acquisition of Smoke Tree Commons and Smoke Tree Village provided the buyer the opportunity to own and control the premier shopping centers in Palm Springs,” said Mr. Bethea. “It also represents not only a flight to quality, but a growing appetite by the buying community to own the best retail centers in not only primary but secondary markets as well.”
Smoke Tree Commons, located at 2465 E. Palm Canyon Drive in Palm Springs, is an institutional quality neighborhood center that is currently unencumbered with a superior tenant line-up. Currently 96 percent leased, Smoke Tree Commons is the premier 175,000 square foot grocery anchored shopping center driven by strong tenant sales offering patrons a unique shopping experience that is best-in-class. Its national tenant line-up includes TJ Maxx, Cost Plus World Market, Michaels, Petco and Big 5 Sporting Goods.
Smoke Tree Village is located at 1733 E. Palm Canyon Drive (0.3 miles from Smoke Tree Commons). This established, recently remodeled, 109,997 square foot neighborhood shopping center also offers an exclusive national tenant mix including Ralph’s Fresh Fair, Native Foods, and Smok’n Burgers.
Located along Coachella Valley's main retail corridor (Hwy 111) Smoke Tree Commons and Smoke Tree Village were designed and constructed to the highest of retail industry standards.