601 E Tahquitz Canyon Way Palm Springs, CA
Investment or Owner-User Office Offering in the Heart of Palm Springs
Marketing description
STRONG MARKET FUNDAMENTALS
—OFFICE STABILIZATION — In the Coachella Valley office submarket, vacancy rates have historically been relatively moderate, around 6%, and specialties like medical office and executive suites have helped keep space utilized..
—POPULATION GROWTH —The Coachella Valley’s population has grown more than 26% since 2000, with compound annual growth rate of 1.65% from 2000-2024, double the growth rate for the United States as a whole.
—TOURISM DRIVING ECONOMIC EXPANSION — Palm Springs International Airport (PSP) is a major economic engine for the region, generating approximately $2.5 billion in total economic output and supporting ±18,377 jobs in Fiscal Year 2024. Visitor spending tied to the airport contributed over $1.1 billion, and it also generated about $382 million in tax revenues. PSP’s ongoing expansion and modernization aims to increase capacity, add gates, and support future international flights — which can boost visitor traffic and business travel.
IDEAL OFFICE LOCATION ADJACENT TO DOWNTOWN PALM SPRINGS MAIN THOROUGHFARE TO MAJOR AMENITIES
—PROXIMITY TO MAJOR AMENITIES — The property sits near some of the Coachella Valley’s best amenities including Downtown Palm Springs, the best shops, restaurants and hotels, Palm Springs Convention Center, Palm Springs International Airport and more.
—IDEAL COACHELLA VALLEY DEMOGRAPHICS — The Coachella Valley’s population increased by 6.8%, reaching a full-time resident population base of 455,408 [CVEP 2024 Economic Report]. The property is within a 5-mile population of ±83,710 and an average household income of $118,695.
Investment highlights
OWNER-USER OR INVESTMENT OFFICE OFFERING IN THE HEART OF PALM SPRINGS
—IDEAL OWNER-USER OPPORTUNITY — Rare offering of a two-story, high-visibility office building in the heart of Palm Springs, perfect for an owner-user seeking a prestigious Palm Springs address with immediate in-place income.
—INSTITUTIONAL-GRADE TENANCY — Secure cash flow provided by Existing public retail bank and government user, both occupying suites in the building. Both tenants provide exceptional credit quality and stability for new ownership.
—LONG-TERM GROUND LEASE — The property is subject to a ground lease with 53 years remaining, providing security and flexibility for long-term planning and investment.
—PRIME PALM SPRINGS LOCATION — Located at the core of Palm Springs’ downtown district, surrounded by renowned amenities including hotels, restaurants, retail, and entertainment venues. Walkable access to local government offices, Convention Center, and cultural attractions.
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