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SoCal center sold for $19.8 million


Town Center Plaza, an 82,000-sq.-ft. center in Palm Desert, California, near Joshua Tree National Park, has been acquired by Citivest Commercial Investments for $19.8 million.

Constructed in 1993, the center’s tenants include Trader Joe’s, Michael’s, Fisherman’s Market and Grill , and Tuesday Morning. Colliers International brokered the deal on behalf of Citivest. The seller was Town Center Plaza LP.

“There is a continued, strong desire by investors to acquire well-located grocery anchored neighborhood shopping centers in Southern California,” said Colliers senior VP Bill Barnett.

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