Cardenas Market Absolute NNN Lease Grocery Indio California

Sands Investment Group is Pleased to Exclusively Offer For Sale the 58,904 SF Absolute NNN Lease Grocery Investment Property Located at 82266 Highway 111 in Indio, California. Cardenas Markets is One of the Largest Hispanic Grocery Companies in the U.S. and Recently Extended Its Lease Demonstrating Its Confidence in This Location. This Deal Offers a Long-Term Secure Income Stream, Strong Rental Increases With a Pandemic, Recession and an Internet Resistant Tenant.

LONG TERM LEASE WITH LEADING REGIONAL GROCERY TENANT

• Cardenas is a Regional Latino Grocery Store Chain With 56+ Locations in California, Arizona and Nevada; Annual Sales in Excess of $1 Billion Dollars
• The Absolute Triple Net (NNN) Lease Consists of 13 Years of Primary Term Remaining With Two 7.5 Year Options to Extend With Zero Landlord Responsibilities
• Strong Rental Increases – Ten Percent (10%) Every Five Years Providing a Strong Hedge Against Inflation
• Cardenas is Owned By KKR & Co. Inc., a Global Investment Firm With Over $150 Billion Under Asset Management (NYSE: KKR)
• Confidence in Location – Tenant Recently Extended the Initial Term of the Lease Demonstrating Strong Confidence in This Location For the Long-Term Investment Outlook
• Long Term Operating History – Tenant Has Resided at This Location Since 2005 and Has Invested Over $5 Million Into Property Improvements

DAILY NEEDS & NECESSITY BASED TENANT

• Tenant Has Remained Open & Paying Rent Throughout the COVID-19 Pandemic and Proven By Constant Traffic Flow to Be a Favorite Regional Grocer Amongst the Greater Palm Springs Population
• Grocery Stores Provide a “Daily Needs” For Consumers Marking the Property Recession and Internet Resistant

DOMINANT DESTINATION LOCATION WITH HIGHWAY FRONTAGE

• Strong Frontage Along Highway 111 – Average Traffic Counts Over 34,268 Vehicles Per Day
• Adjacent Retailers Include CVS Pharmacy, AutoZone, Jack in the Box and Others Providing a Destination Location
• Located Directly Across the Street From Indio Grand Marketplace – Haagan Companies Planning a Major Redevelopment and Expansion of the Mall Into a Vibrant Retail, Entertainment and Dining Destination Attractive to Both Local Residents and Tourists
• The Palm Springs & Indio Market Has Experienced a Massive Increase in Home Sales From High Buyer Demand Throughout 2020
• Indio is Home to the Annual Coachella Music Festival, an Annual Event That Draws an Average of Nearly 600,000 People Over Six Days, and Stagecoach Music Festival, Which Draws an Annual Average Crowd Of 70,000 People Over Three Days
• Densely Populated Area With Over 180,241 People Within 5-Miles
• Affluent Trade Area With an Average Household Income of Over $81,136 Within 5-Miles
• Strong Target Customer Base With Over 70% Hispanic Population Within 3-Miles
• Indio is Located 23-Miles From Downtown Palm Springs, 128-Miles From Downtown Los Angeles and 131-Miles From San Diego

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