Fountain Plaza | Palm Desert, CA

Highlights:

• 6.9% projected cap rate year 1
• Diversified tenant mix
• Largest tenant - Keedy’s Diner has been in operation since 1957
• An elevated experience awaits at El Paseo, home to upscale restaurants, designer fashion, art galleries, interior design showrooms & specialty services
• 48,585 cars per day along Highway 111

Description:

Voit Real Estate Services’ Retail Properties Group, as exclusive advisor, is pleased to present the opportunity to acquire Fountain Plaza in Palm Desert, located within the region’s primary retail corridor—El Paseo and Highway 111. While El Paseo is recognized as the desert’s most heavily foot-trafficked retail destination, Highway 111 serves as one of its primary commuter arteries, with average daily traffic counts exceeding 48,500 vehicles.

The property is currently anchored by Keedy’s Diner, which occupies 18% of the total GLA. In continuous operation since 1957, Keedy’s has become a cherished community fixture—having been sold twice, both times to loyal patrons, reflecting the community’s deep-rooted commitment to preserving its legacy. The remaining tenants each occupy between 600 and 1,400 square feet (3%–6% of the GLA), providing ownership with a diversified rent roll and the flexibility often associated with smaller, short-term leases.

Fountain Plaza presents a rare opportunity to acquire a stabilized, historically significant asset in the heart of Palm Desert’s retail core. With a loyal tenant base, prime frontage, and long-term repositioning potential, this property offers investors both durable cash flow and the ability to enhance value over time through strategic leasing or redevelopment.

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