After previously trading hands in 2020, a Palm Springs building formerly occupied by the Desert Sun Media Group is being listed with an asking price of $12.9 million, or about $150 per square foot. According to the listing by Lee & Associates, the 86,180 square foot property maintains a variety of uses, with multiple office spaces, production and warehouse facilities.
The two-story building is located at 750 N Gene Autry Trail on about nine acres of land. The property also offers 240 parking spaces, 20 private offices, conference rooms and a lobby in addition to the industrial spaces.
According to the Desert Sun Media Group – which is owned by Gannett – the property was acquired by Los Angeles-based Industrial Realty Group in 2020 for $7.5 million in a nationwide portfolio of other Gannett properties. At that time, Gannett moved printing facilities at the former Desert Sun Media Group to its printing facilities in Phoenix, Arizona. Prior to the move, the Desert Sun Media Group had occupied the building since 1989.
Now vacant, the property can provide space for one to four tenants, depending on the needs of the owner. According to the listing, the property could serve multiple uses, including use as a showroom, headquarters, warehouse facility as well as different uses for research and institutional tenants.
The property is located a short commute to retail and restaurant amenities in Downtown Palm Springs and directly adjacent to the Palm Springs International Airport. The property is also in close proximity to Interstate 10, providing easy access to nearby San Bernardino and Riverside counties.
The nearby airport sees more than 1.2 million passengers per year. Palm Springs is also home to a large population, with more than 420,000 residents living in a 20-mile radius of the property. On average, Palm Springs residents also earn a household income of $94,767 per year.
Lee & Associates did not respond to a request for comment.
