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11/24/25
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Indian Wells Medical & Professional Center, a 40.8k sf commercial property in Indian Wells, was acquired by a 1031 exchange buyer in a $10.525 mil ($258/sf) transaction. The property, located at 74785 Hwy 111, is home to several nationally and regionally recognized tenants including Charles Schwab, RadNet, Mercer Financial and SBEMP Law.
Bult in 1996, the two-story Medical and Professional Center has been meticulously maintained and features striking architectural design incorporating prominent tenant signage, towering columns, inviting courtyards, outdoor seating and covered parking. Prominently positioned along Hwy 111, Coachella Valley’s primary commercial thoroughfare, the property has an impressive 260+ feet of prime street frontage and visibility to over 40,000 cars per day.
Progressive Real Estate Partners’ Greg Bedell, CCIM, and Heather Sharp, represented the seller Kresher Capital, a Miami-based investment company. The buyer, Orange County–based Circle Vision, handled its own representation. The company owns a portfolio of office and industrial assets in Orange County and Scottsdale and agricultural properties across California, including the Coachella Valley.
Prior to listing the center for sale, Sharp led a major leasing effort that elevated occupancy from below 60% to over 90%, fully stabilizing the asset. She completed numerous transactions including a renewal with Charles Schwab, a 10-year renewal and expansion with RadNet as well as finalized a new lease with Mercer Advisors—all prominent national tenants.
Indian Wells—one of the most affluent cities in the country and part of the Coachella Valley—is characterized by its exceptionally high household incomes, limited commercial inventory and strict development barriers that preserve long-term value. With an annual population increase of nearly 12% since 2020 and an average household income exceeding $260,000, the city’s economy is driven by affluent retirees and professionals drawn to its resort-like lifestyle.
According to Sharp, “The buyer was attracted to the property’s irreplaceable location and its institutional quality tenant mix of national healthcare and financial brands.” She added, “In a market where new development is nearly impossible, assets like this are extraordinarily rare and that scarcity continues to drive investor demand.”
Bedell noted, “This transaction represents the only sale of a leased investment office building over $10 mil in the Coachella Valley during the past five years. Demand for core medical-office assets in high-performing suburban markets continues to rise, particularly in the Inland Empire which currently has the lowest office vacancy rate in the nation.”
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