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| William Shopoff |
La Quinta, CA – Shopoff
Realty Investments, a national manager of opportunistic and value-add real
estate investments, announced the company has acquired a 22-acre vacant site in
La Quinta, Calif., for $7.25 million.
Shopoff Realty Investments
intends to entitle the property for a mixed-use development with commercial and
residential real estate.
The property is located at
the southwest corner of La Quinta Drive and Auto Center Drive, one block from
Highway 111, and is also accessible from Adams Street. Nearby developments
include the La Quinta Resort & Club, the Rancho La Quinta Golf Club and
Lake La Quinta, as well as numerous restaurants and shopping venues.
“This is an excellent
asset in a prime location in Coachella Valley, approximately 25 miles from Palm
Springs, and surrounded by high quality developments,” said Shopoff Realty
Investments Chief Executive Officer William
Shopoff.
“Our team will employ our
specialized expertise to transform this vacant lot into a more valuable
property that will greatly enhance the local community,” added Shopoff Realty
Investments Executive Vice President Land Division John Santry.
For a complete copy of the company’s news release,
please contact:
Jill Swartz
Spotlight Marketing
Communications
949.427.5172, ext. 701
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