JLL Leases Retail Space To Babe's Smokehouse At Canopy At Citrus In Indio
49730 Jefferson Street
Building Size
3,125 SF
Asset Type
Retail
Closing
Mar 11, 2024
AI
The retail property located at 49730 Jefferson Street in Indio, California, consists of a 3,125-square-foot space, including a 2,275-square-foot indoors area and an 850-square-foot patio, leased by Canopy, L.P. to Donald Warren Callender for his restaurant, Babe’s Smokehouse & Tavern.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 49730 Jefferson Street
- Market: Indio
- Asset Type: Retail
- Square Footage: 3,125
Brian Quinn of JLL represented the landlord, Canopy, L.P., in this lease agreement, bringing Canopy at Citrus to full occupancy with the addition of Babe’s Smokehouse and Tavern. The lease reflects the strong demand in the retail industry in Indio, California, with low vacancy rates and rising rents, as indicated in JLL's United States Retail Outlook.
Players
Indio Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93