Ridgecrest Town Centre 700 N China Lake Blvd 60,005 SF Retail Building Ridgecrest, CA 93555 $5,995,000 ($99.91/SF)

Progressive Real Estate Partners is pleased to present the opportunity to acquire a ±60,005 SF freestanding retail building situated on ±4.94 acres along N China Lake Boulevard, Ridgecrest’s primary retail corridor and the dominant commercial spine of the Indian Wells Valley. Located within the city’s established retail core and surrounded by national tenants including Stater Bros., Ross, Five Below, and Big 5, the property benefits from strong co-tenancy within a geographically insulated trade area. The asset is occupied by corporate-backed tenants Marshalls and Famous Footwear, both of whom extended their leases in 2025, reinforcing long-term commitment to the location. Offered at $101/SF – well below replacement cost – the property provides an attractive entry basis with clear upside through the lease-up of a vacant ±20,000 SF junior anchor space and an additional ±9,002 SF unit. As the commercial hub of the Indian Wells Valley, Ridgecrest draws from surrounding desert communities for everyday retail and medical needs. The local economy is anchored by Naval Air Weapons Station China Lake, one of the Navy’s largest research and testing installations, providing a stable, government-backed employment base. The combination of corporate tenancy, discounted basis, and defined lease-up potential creates a balanced investment offering durable income with an attractive value-add component.