May 8, 2006
San Diego, California — Woodbridge Development completed its purchase of approximately 18 acres from Sanderson J. Ray- Indian Wells, L.L.C. in the premier Coachella Valley community of Indian Wells.
The property, located at the southwest corner of Miles Avenue and Washington Street, in the city of Indian Wells, constitutes the residential portion of a proposed 64 acre mixed use development known as the Indian Wells Town Center. In addition to the residential component, the development will include a luxury condo/hotel development of 600+/- units, and a high-end neighborhood shopping center.
Woodbridge Development seized the opportunity to be a part of this luxury development and build semi-custom homes in a prime location adjacent to the world renowned, Indian Wells Tennis Center in the Coachella Valley's most premium community. Todd Cunningham, President, Woodbridge Development, estimates the 18+/- acres will yield 43 single family lots.
Graham G. Weiss and Raphael A. DiBianco represented both the Buyer and Seller in this transaction.
GW Realty Co. specializes in real estate brokerage and valuation consulting with an emphasis in residential land throughout Southern California, and has completed over $2 billion in transactions since 1993. A non-traditional real estate firm, GW Realty Co. concentrates their efforts on key relationships with a select group of clients and properties.
For additional information about this transaction or other residential development opportunities please contact us at (858) 622-7171.