Dave & Buster's Signs Lease For 22,982-Square-Foot Space At The River At Rancho Mirage
71800 Hwy 111, Rancho Mirage, CA 92270
$25
$25/SF
Building Size
22,982 SF
Asset Type
Retail
Closing
May 18, 2023
AI
Dave & Buster's has signed a lease for a 22,982-square-foot space at The River at Rancho Mirage, a premier retail center in California's Rancho Mirage. The lease was facilitated by the landlord, CL Investment Group, and the tenant's representatives from CBRE, including Scott Riddles, Derek Fitch, and Rob Crumly. The landlord's representatives from CBRE, Marco Rossetti, and Walter Pagel, also played a role in the transaction. The lease agreement sets the asking rent at $25 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not Applicable
- Address: 71800 Highway 11, Rancho Mirage
- Market: Rancho Mirage
The lease agreement between Dave & Buster's and CL Investment Group will bring a new demographic to The River at Rancho Mirage. The retail center is known for its unique design elements and popular anchor tenants. Dave & Buster's plans to open its location in the third quarter of 2023, offering a new entertainment option for visitors to the retail center.
Players
Los Angeles 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
634520.00%
Cash-on-Cash
-181347.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93