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 a 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.
Currently, according to CoStar, as of February, 2020 there 131 building for sale in the market. The "for sale' buildings, ranging from $500,000 to the millions breakdown as follows:
Office - 42
Industrial - 33
Retail - 56
In December, 2018 there a reported 155 buildings in these categories. Buildings are being absorbed with little or no new construction in the market. Absorption and limited construction indicate vales will hold and probably increase in the coming months if not years.
The Palm Springs/Coachella Valley is an opportunity marketplace. We would be happy to share our long term experience in this market with you in the near future.