Overview

Description

SRS Capital Markets Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in Desert Hills Plaza, a Grocery-Anchored shopping center investment property located in Yucca Valley, California. The property was recently renovated in 2019, when the anchor tenant, Grocery Outlet, Inc. signed a new 10-year lease with 4 (5-year) options to extend. Family Dollar, Inc. also signed a new 10-year lease with 3 (5-year) options. Both leases feature scheduled rent increases at the beginning of each option periods. At 69% occupancy, the property has one remaining space to be leased, providing upside potential for a future investor/user to maximize the value of the property.

Desert Hills Plaza is strategically positioned as the gateway to Yucca Valley’s vibrant commercial landscape along 29 Palms Highway (29,500 VPD), epitomizing prime commercial real estate. Its location at a prominent intersection ensures unparalleled visibility and solidifies its standing as a landmark recognizable to both local residents and passing travelers. Moreover, Desert Hills Plaza is surrounded by an array of shopping centers featuring prominent national and credit tenants, further enhancing its allure as a premier retail destination. Adjacent to well-known retail giants such as Walmart Supercenter and Home Depot, and neighboring popular shopping centers housing national brands like Target, Best Buy, and Bed Bath & Beyond, Desert Hills Plaza benefits from the synergies of its surroundings, drawing considerable foot traffic from shoppers exploring the area’s diverse retail offerings. Additionally, its close proximity to residential neighborhoods further solidifies its status as a community cornerstone, fostering a sense of belonging and loyalty among its patrons. The 5-mile trade area is supported by a population of over 24,000 with an average household income of $81,000.

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