Indio, Calif. — Red Mountain Group Inc. has acquired Indio Towne Center, a 560,000-square-foot shopping center located in Indio, a city in Southern California’s Coachella Valley.
Bill Bauman and Kyle Miller of Savills Studley arranged the transaction. The name of the seller and sales price were not disclosed. WinCo Foods anchors the center, which also houses a Home Depot, 24 Hour Fitness, Party City, Petco, CVS/pharmacy, Taco Bell, Panda Express and Starbucks Coffee. In addition, the property includes a recently vacated 46,827-square-foot Toys ‘R’ Us box, along with an undeveloped anchor building and shop pads, supporting an additional 141,000 square feet of building area. While in escrow, Red Mountain Group has signed leases with Marshalls and Burlington Coat Factory. Kristin Ambrose and Walter Pagel of CBRE are handling the property’s leasing assignment.