Indio Plaza
Value Add Grocery Anchored Center l Dense and Growing So Cal Location
Marketing description
Indio Plaza is a 138,183 square foot Food 4 Less and dd's Discounts anchored neighborhood shopping center located in the growing and densely populated Coachella Valley community of Indio, CA. The property is situated along the signalized intersection of California Highway 111 and Monroe Street, and benefits from strong traffic counts of over 46,900 vehicles per day along these thoroughfares. The offering presents the rare opportunity to acquire a seasoned grocery anchored shopping center featuring best-in-class anchor tenancy within a densely populated and growing Southern California submarket.
Indio Plaza features an 81% national and regional credit tenant base and is anchored by a strong performing 58,000 square foot (approximate) Food 4 Less grocer. Additional national and regional tenancy within the collateral includes dd's Discounts (Ross Stores - BBB+ S&P Rating), Denny's (freestanding pad), Subway, Flame Broiler, Sally Beauty, and Don Roberto Jewelers.
Investment highlights
Rare Value-Add Grocery Anchored Asset In Dense Southern California Location: Rare opportunity to acquire a seasoned grocery anchored shopping center featuring best-in-class anchor tenancy within a densely populated and growing Southern California submarket.
Value Creation Opportunity: Indio Plaza offers a near-term value-creation opportunity through lease-up of approximately 26,033 square feet of vacant GLA (19% of total GLA); including a highly-visible 18,000 square foot junior anchor suite (current tenant to vacate 5/2026).
Strong NOI Growth Profile: Through embedded rental increases and lease-up of the vacant suites, the property NOI is forecasted to grow at a Compound Annual Growth Rate (CAGR) of approximately 4.7% over a 10-year period.
Category-Dominant Food 4 Less and dd’s Co-Anchors: Food 4 Less, an operating banner of The Kroger Company, is one of the dominant discount grocery operators in Southern California with an investment grade “BBB” S&P rating. An operating banner of Ross Stores, Inc., dd’s Discounts is a part of one of the nation’s largest off-price retailers and has an investment-grade “BBB+” S&P rating.
Credit Tenancy: Approximately 81% of the occupied square footage consists of national and regional tenants. These tenants comprise approximately 75% of the in-place rental revenue stream.
Fastest Growing City in the Coachella Valley: Indio continues to lead regional population growth and has been nationally recognized as a Top 100 U.S. “Boomtown,” with over 4,000 housing units planned or under construction.
Growing Trade Area: The trade area is experiencing consistent population growth, with an increase in population of 8.2% between 2020 and 2025. The submarket’s population is projected to increase by an additional 3.8% over the next five years (three-mile radius).
Dense Residential Submarket: The trade area surrounding Indio Plaza benefits from healthy population densities, with approximately 22,814 residents and 108,466 residents living within a one and three-mile radius of the subject property, respectively.
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