March 3, 2016
Town Center Plaza, an 82,900-square-foot retail center in Palm Desert’s retail district, will be sold by Irvine-based Ten-X. The managed bid event is scheduled for next month on the new Ten-X Commercial platform, launching this month.
The online event will take place in a custom, two-step process, typically reserved for higher-priced properties, allowing interested participants to first qualify for a “short list” by submitting sealed indicative offers prior to the event. Indicative offers are due March 11.
Town Center Plaza is a grocery-anchored property with an existing tenant mix, including national retailers Trader Joe’s, Michael’s Arts and Crafts and Tuesday Morning. A mix of local retailers and popular restaurants are also located at the 87-percent occupied property.
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