Desert Hot Springs Office Asset Trades in 1031 Exchange

Pierson Plaza, a 38,084 square-foot office building in Desert Hot Springs, CA, has been sold for $11.3 million in a 1031 exchange. Long Beach-based commercial real estate firm Tahiti Partner Properties divested the property at 65753 Pierson Blvd. to an unnamed Palm Springs-based real estate investment company. The building is fully-leased to Riverside County’s Dept. …

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