Hanley Investment Arranges $2.4 Million Sale of Ground Lease in Palm Desert

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Palm Desert, Calif. ­— Hanley Investment Group has arranged the sale of a single-tenant Bank of America corporate ground lease in Palm Desert.

Los Angeles-based Sariel Investments LLC purchased the asset from Irvine, California-based Passco Washington Square for $2.4 million. Built in 2015, Bank of America occupies a 3,515-square-foot building located at 39355 Washington St. Bill Asher and Ed Hanley of Hanley Investment Group represented the buyer and seller in the transaction.

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