Doug Circle Of Circle Vision Acquires Indian Wells Medical Office From Kresher Capital For $10.53M

The property involved in this transaction is a medical office asset located at 74785 Highway 111, Indian Wells. The sale price for this asset was $10,525,000, with a total square footage of 40,750 and a price per square foot of $258. The medical office is now over 90% leased to tenants including Charles Schwab, RadNet, and Mercer Financial. This sale represents the only leased office investment in the Coachella Valley above $10 million in the past five years.

Summary of transaction details:

• Property Type: Medical Office
• Transaction Amount: $10,525,000
• Address: 74785 Highway 111
• Market: Indian Wells
• Square Footage: 40,750
• Price per Square Foot: $258
• Buyer: Doug Circle - Circle Vision
• Seller: Kresher Capital
• Brokers: Greg Bedell & Heather Sharp - Progressive Real Estate Partners

This transaction was facilitated by Greg Bedell and Heather Sharp, who represented Progressive Real Estate Partners in brokering the deal between the seller, Kresher Capital, and the buyer, Circle Vision. The transaction occurred as part of a 1031 Exchange process.