Palm Springs, CA, September 27, 2014 --(PR.com
)-- The National Golf & Resort Properties Group of Marcus & Millichap Real Estate Investment Services (NYSE: MMI), the nation’s largest real estate investment services firm with offices throughout the United States and Canada, has been retained to exclusively market for sale Indian Springs Golf Club located in La Quinta and Indio, California, according to Steven Ekovich, the group’s National Managing Director.
Indian Springs Golf Club offers 18-holes of championship golf, a Dave Ginkel design. The property is a turnkey asset and should require no major capital expenditures post-acquisition. In addition to the high quality golf course, the property also includes an 8,000 sq. ft. clubhouse with the “Club House Grille” restaurant, a pro shop, banquet and event hosting services and a comprehensive golf practice area. Also included in the sale is a minor residential development component capable of accommodating four single family homes, which could be used for “Stay & Play” housing for out-of-area guests.
According to Mr. Demby, “Indian Springs is located in the Greater Palm Springs region of Southern California, a major tourist destination which attracts over $4.5 billion in annual spending from over 12.2 million visitors. The region boasts perfect weather for golf course operations, with 350 days per year of sunshine and an average of only 5.5 inches of annual rainfall.”
Ray continues, “The club offers significant upside opportunities for a new investor, as F&B operations can add over $200,000 to the property’s bottom line in year one of new ownership. Furthermore, golf rates are currently priced below the competition and the surrounding neighborhood presents a tremendous opportunity for membership growth.”
Indian Springs Golf Club is listed at $6,000,000. To obtain more information on this property or other golf properties for sale, please contact the Lead Agent, Raymond Demby, directly at (813) 387-4725, or visit www.nationalgolfgroup.com to view all of the group’s current listings.
The National Golf & Resort Properties Group has sold 61 golf courses over the past 48 months; including well-known brands such as TPC and Ritz-Carlton, and properties recognized as “Best in State” and “America’s 100 Greatest Golf Courses”.
About National Golf & Resort Properties Group: Founded in 2009, National Golf & Resort Properties Group has become the renowned industry leader in golf course sales nationwide. The group has sold 61 courses, within the last few years, and has underwritten over $1 billion in golf assets. The National Golf & Resort Properties Group successes are unprecedented in the golf course industry. Our management team has over 25 years’ experience in both golf and commercial real estate and 20 years PGA professional management experience. For more information please visit: www.nationalgolfgroup.com.
About Marcus & Millichap (NYSE: MMI)
With over 1,300 investment professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 6,600 transactions in 2013 with a value of approximately $24 billion. The company has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com