COMMERCIAL MARKET IN THE
PALM SPRINGS COACHELLA VALLEY AREA
The Palm Springs market conveniently located about 2 hours east of the Los Angeles/Orange County market and 2 hours north of Mexicali, Mexico. With a population moving above 400,000 it is a developing marketplace for all types of goods and services plus. Plus, it is an expanding investment destination. The economy is supported by tourism, agriculture and government services (education, medical, city & county services).
The stable and growing work force creates demands for goods, services, and housing. This increasing workforce creates a demand for office, retail and industrial/service buildings and spaces.
According to CoStar, available buildings in the market have increased "For Sale” buildings, ranging from $500,000 to the millions breakdown as follows:
Covid-19 has probably had a negative impact on available buildings. Some owners or investors may want to reduce their investments due to the uncertainties created by the virus.
It remains to be seen if prices will drop as more properties come onto the market. If this happens, investment opportunities will open up.
The Palm Springs/Coachella Valley is a long term marketplace. We would be happy to share our long term experience in this market with you in the near future.