The Shops at Palm Desert, a mall that has been for sale since last summer, has sold to a real estate investment company. The new owner, Pacific Retail Capital Partners, states it is planning to redevelop portions of the property with housing, green space, entertainment, and other mixed-use offerings. In a press release announcing the sale, Pacific Retail Capital Partners stated it plans “to conceptualize, design, and develop an innovative master plan for the 72-acre property that will transform it into a vibrant, mixed-use destination and create an iconic civil gathering place that contributes to the existing character of the Coachella Valley. The company owns several malls nationwide and has recently purchased several more with plans of redevelopment.

The Palm Desert mall currently has around 100 stores and is the largest indoor shopping center in the Greater Palm Springs area. The new owner has not yet released a specific timeline for the project, but Palm Desert Mayor Kathleen Kelly has stated the city has been intently monitoring the activity at the mall to ensure its trajectory is “thoughtful and consistent with other city objectives.”