NEW HIGHDENSITY LAND USE

7-40 D.U./ACRE

TOWN CENTER NEIGHBORHOOD

COACHELLA VALLEY OFFICE: 777 E Tahquitz Canyon Way, Suite 200, Palm Springs, CA 92262 | T (760) 969-7357

RARE VACANT HARD PRIME CORNER INTERSECTION | AFFLUENT AREA OF PALM DESERT

PEDESTRIAN-ORIENTED INFILL SITE NEAR SHOPPING, JOBS, RESORT AMENITIES/GOLF, RESTAURANTS & HOMES

POTENTIAL FOR MULTI-FAMILY/APARTMENTS, COMMERCIAL, HOSPITALITY, RESIDENTIAL OR MIXED USE*

PROPERT Y & PALM DESERT OVERVIEW

“Frank Sinatra & Portola” consist of a 17.63-acre rare vacant, hard corner 4-way intersection which enjoys an infill location in the midst of exclusive resorts and prestigious golf clubs with sweeping views of the Santa Rosa Mountains. This highly visible and prime corner on Frank Sinatra Drive & Portola Avenue is situated in the more affluent central area of Palm Desert. The property was recently designated as 7DU-40DU/Acre and could potentially yield highest and best uses including Multi-Family Apartments, Senior Living, Commercial, Hotel, Single Family Detached Residential, Condos/Townhomes or Mixed Use. Directly to the east sits the well-known Desert Willow Golf Resort including two championship golf courses and a spectacular clubhouse & restaurant. The course is open to the public and Palm Desert residents for only $50 and has won many accolades including the “2013 Golf Week’s Best Municipal Courses” and the “Golf World’s Top 50 Public Courses.” Also in close proximity is the renowned JW Marriott Desert Springs Resort & Spa including the acclaimed 36-hole Ted-Robinson-designed course. To the East on Frank Sinatra Dr. only one-mile away, is the UC Riverside and California State University San Bernardino Palm Desert campuses, the latter of which recently expanded to the desert’s first 4-year college.

“PALM DESERT, CA” is located in the center of the Coachella Valley and spans from I-10 to south of Hwy. 111. The city is well known for its luxury shopping district known as “El Paseo,” multiple resorts and golf courses, and several college campuses. With a population of 50,417 and a need for new apartment, senior, and home supply, Palm Desert has growing demand from new homebuyers and renters, especially from the under supplied mid-price points in superior locations that the “Frank Sinatra & Portola” project could cater to.

T H E H O F F M A N C O M P A N Y E X C L U S I V E O F F E R I N G

BROKER CONTAC T

“Retreat” Active Development Across Street Desert Willow Golf Resort Across StreetSubject Property Photo

Erik ChristiansonCA BRE #01475105C (949) 910-7337 • T (949) 705-0920echristianson@hoffmanland.com

PROPERT Y DETAILS

LOCATION Palm Desert, California REGION Coachella Valley, Riverside CountyINTERSECTION South West Corner of Frank Sinatra Drive & Portola AvenueAREA LANDMARKS Adjacent to Desert Willow Golf Resort, Near Desert Springs JW Marriot & Marriot Vacation Club Shadow RidgePROPERTY SIZE 17.63 AcresZONING New General Plan Land Use “Town Center Neighborhood” (7DU-40DU/Acre) | Up to 3-StoriesPOTENTIAL USES Commercial, Multi-Family Apartments, Senior, Hotel, Residential SFD/Condos, or Mixed Use*ENTITLEMENTS Previously entitled for 157 Total Lots (119 Single Family & 38 Paired Homes)SITE CONDITION Unimproved (adjacent to major roads and stoplights completed)OFFER DUE DATE Offers to Be Considered as Submitted.*Buyer to Verify with City

FRANK SINATRA& PORTOLA

17.63 PRIME CORNER ACRESMULTIPLE POTENTIAL USES* (MULTI-FAMILY, COMMERCIAL, HOTEL, RESIDENTIAL)

CIT Y OF PALM DESERT | COACHELLA VALLEY, CA

PORTOLA AVENUE

FRANK SINATRA DRIVE

FUTURE RESIDENT IAL

$450K-$800K 4-PLEX PRODUCT

Months of Inventory(Down from 6.4 Months Last Year) Only 4.5 Months

P A L M D E S E R T Q U I C K F A C T S

Source: Market Watch LLC, Data Quick, California Board of Equaliztion

Year Over Year HomePrice Appreciation 9.6%

Total Population 50,417Average Household Income $78,828Annual Retail Sales $1.6 Billion