Progressive Real Estate Partners Senior VP Heather Sharp recently completed the $1,750,000 sale of a 5,000± square-foot freestanding retail building located at 74120 Highway 111 in Palm Desert.
The property is prominently positioned just off the signalized intersection of Highway 111 and El Paseo, with visibility to over 49,000 cars per day. Located in Palm Desert’s highly sought-after Downtown Edge District, it’s an inviting and walkable area that blends commercial, residential, and service uses.
The buyer, a family that owns and operates the neighboring Shiraz Rug Company, acquired the building to expand the store’s operations. Dedicated to serving the Coachella Valley, the gallery offers a wide selection of in-stock, handmade, traditional, and modern rugs, as well as custom design services. The store also provides expert rug cleaning and repair services. With the purchase, their footprint will nearly double in size to approximately 10,000 square feet, enabling them to stock and showcase a significantly larger selection of rugs and provide a better customer experience.
The building boasts nearly 100 feet of frontage on Highway 111, offering dual access via its front and rear parking lots. It is located less than a mile from the El Paseo Shopping District, home to premier retailers and restaurants, including Tommy Bahama, Gucci, Ralph Lauren, Lovesac, Chico’s, Eddie V’s Prime Seafood and California Pizza Kitchen. Within a 5-mile radius, the property benefits from a strong demographic base of over 104,000 residents, with an average household income exceeding $151,000.
Heather Sharp
According to Sharp, “Helping a successful local business expand its current location is especially rewarding. With the help of SBA financing, Shiraz Rug Company is nearly doubling the size of its showroom and expanding its inventory. The larger space also means more choices for their customers, giving them a more enjoyable shopping experience, and I’m excited to see them build on their success”.
Progressive Real Estate Partners (PREP) is a boutique commercial brokerage firm headquartered in Rancho Cucamonga. Founded in 2008, the firm specializes in leasing and selling retail properties in Greater Palm Springs, the Inland Empire, and the San Gabriel Valley. The firm is also the exclusive Inland Empire representative of the Retail Brokers Network (RBN). Since the firm’s inception, Progressive Real Estate Partners has completed over 1,650 lease and sales transactions valued at more than $1.8B in over 35 cities throughout the region.
Contact Heather Sharp at Heather@progressiverep.com or (760) 880-1858.
