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1/22/24
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A 16.6k sf, single-tenant, net-leased Texas Roadhouse in the Inland Empire city of Indio sold for $3 mil ($181/sf). The restaurant pad property is part of Indio Towne Center, a dynamic 560k sf power center.
The property was sold by Red Mountain Group, who acquired the asset in 2018. Anchored by WinCo Foods, other notable tenants include Home Depot, Marshalls, Ulta, Burlington, and CVS.
The property is on the southeast corner of Jackson St and 42nd Ave, with excellent exposure to the I-10 Fwy. Indio is the fastest growing city in the Coachella valley.
Bill Bauman of Newmark represented Red Mountain Group in the transaction. The buyer was LHF properties LLC and H and G joint venture.
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