Palms to Pines Plaza West is a neighborhood shopping center anchored by Smart and Final Extra! in the City of Palm Desert, California. The subject property fronts on Highway 111 consists of ±82,180 RSF situated on three parcels of land totaling 8.19 Acres (±356,942 SF). The center was developed in 1963 and renovated in 2006 & 2017 consisting of a ±43,615 sf anchor space bordered on each side by a total of ±26,107 square feet of shop space and a freestanding ±12,458 sf pad building fronting on Highway 111. Located directly across the street from the ±980,000 square foot Westfield Palm Desert Mall on the main commercial thoroughfare of Palm Desert with ±26,992 CPD. The property has excellent street visibility benefiting from three monument signs along two major commercial thoroughfares El Paseo and Highway 111. Additionally the center features multiple points of in an egress and abundant parking with ±364 surface spaces or 4.43 per 1,000 SF.
♦ High-performing national credit tenant grocery anchored shopping centers come to market in Southern California.
♦ High Credit and Brand Name Tenancy - 64% of the leased GLA is leased to credit and brand name regional operators including Smart & Final Extra!, Chase Bank, Cosmo Prof, Tiramisu Ristorante Italiano and Batteries + Bulbs.
♦ 100% Internet Resistant Tenancy and “Daily Necessities Draw” – Most of the tenants including Smart & Final Extra!, Chase Bank, Cosmo Prof, Tiramisu Ristorante Italiano and Batteries + Bulbs sell perishable food and beverage items or provide Health, fitness or other services that are not conducive to the internet transactions, providing a barrier against internet competition.
♦ Low in-place rents- Property wide, rents at Palms to Pines Plaza West are ± 26% below current market rates, enhancing tenant stability and competitiveness, and providing strong rental growth.
♦ Dominate Retail Location within a Strong Retail Trade Area- well positioned with on Highway 111 (±26,992 CPD) with ±421 linear feet of frontage and directly across the street from 980,000 square feet Regional Mall (Westfield Palm Desert Mall).
♦ Recently Renovated- The property was recently renovated with improvements with exterior painting, wood work and updated landscaping.
♦ Wholly-Owned/ Multiple Parcels- Purchase the entire center has the individual buildings on separate parcels, creating an opportunity for financing alternatives and spin-off sales.
♦ Ideal 1031 Exchange Property- High Preforming Anchored center that is Debt Free in one of the most desirable trade areas of the Palm Desert market place.
Property Tours will be conducted on the following dates:
• Wednesday, May 30th from 10 AM - 2 PM
Please contact Chris Maling @ (213) 364-7222 to schedule a time slot.
License No. 00961384
Disclaimer: The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions.
Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace, (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property.
You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.
72655-72705 Highway 111, Palm Desert, CA 92260
Platform fee for this transaction is 5.00% or a minimum of $25,000.