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8/18/21
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A 9.3k sf medical office building in Palm Desert was purchased by a local private investor in a $4.3 mil ($462/sf) transaction. The property, constructed in 2004, was designed as a build-to-suit for a dental practice and related services.
Located at 72415 Park View Drive, the property consists of two parcels that total more than 1.5 acres. The property houses a dental facility, including two orthodontists, a periodontist and endodontist.
CBRE’s Cray Carlson and Kevin Sin represented the buyer in the deal. Wilson Meade’s Noel Ramos repped the seller, a local private investor.
“This type of property becomes available maybe once every decade. Its design and construction standards make it one of the premiere buildings in the Coachella Valley,” noted Ramos. “Add to this the fact it’s a specialized dental practice in operation for 50 years, and you had an outstanding purchase opportunity for the buyer.”
Palm Desert is the geographic center of the Coachella Valley, a fast-growing region of Southern California. More than 50,000 year-round residents live in Palm Desert, benefitting from the area’s abundant amenities. The city has also been rated one the safest in Southern
California.
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