64 Acres Next to Tennis Garden Hits Market

INDIAN WELLS, CA-More than 64 acres next to the $75-million Indian Wells Tennis Garden is on the market. The land, which has 2,000 ft of frontage along heavily traveled Washington Street, can be divided into development sites ranging from 6.8 acres to 22 acres.

“This land for sale represents a rare opportunity for prime commercial development in the Coachella Valley,” says CB Richard Ellis vice president Maggie Montez, who landed the listing with colleague John Boyd.

In addition to being the second-largest tennis stadium in the world, Indian Wells Tennis Garden also is a concert venue. The tennis complex is south of Del Webb’s Sun City and north of a cluster of country clubs. It also is near two busy Washington Street intersections–Fred Waring Drive and Highway 111.

“Indian Wells is the most prestigious address in the Valley with the highest average income and median home prices of any surrounding city,” Boyd says.

Meanwhile, in an unrelated land sale, a half-acre site at 2060 Emery Ave. in La Habra has been sold for $440,000 to a buyer who plans to use it as a contractor’s yard. The Jerry Roteman Trust acquired the property from the Russell Martin Trust. Both trusts are based in La Habra.

Steve Sprenger of Grubb & Ellis’ Anaheim office represented the Russell Martin Trust. Tom Mulrooney of Ashwill & Associates represented the Jerry Roteman Trust.