Ironwood Plaza

Ironwood Plaza Property Images & Information

Ironwood Plaza Property Description

Faris Lee Investments is pleased to present the opportunity to acquire Ironwood Plaza, a daily needs Dollar Tree-anchored shopping center located in Moreno Valley, California. Strategically positioned at the signalized intersection of Heacock Street and Ironwood Avenue, near the CA-60 Freeway (135,000+ VPD), the shopping center features exceptional visibility and accessibility within one of Riverside County’s most densely populated trade areas. Ironwood Plaza, anchored by investment-grade Dollar Tree, offers investors stable in-place cash flow and significant upside through lease-up / mark-to-market opportunities. Offered below ‘replacement cost’ at approximately $235 per square foot, this investment presents an attractive low-basis acquisition with meaningful long-term value appreciation potential. Dollar Tree (NASDAQ: DLTR / S&P: BBB) serves as the investment-grade anchor to Ironwood Plaza, operating more than 9,300 stores throughout the United States and Canada with an estimated $20.6 billion in 2026 revenue and a market capitalization exceeding $22 billion. The retailer provides a dependable daily-needs traffic driver that benefits the entire shopping center while maintaining an exceptionally low occupancy cost at the subject property. The subject property benefits from exceptional Southern California demographics and a dominant retail corridor. Ironwood Plaza is surrounded by the city’s strongest residential neighborhoods, with more than 134,280 residents within a three-mile radius, and over 220,610 residents within five miles. Proximate national retailers include Costco, Target, Walmart Supercenter, Sprouts, Home Depot, Lowe’s, WinCo Foods, Food 4 Less, Sam’s Club, Aldi, and more. These nearby shopping centers collectively generate millions of annual customer visits, including Towngate Shopping Center with more than 6.8 million visits over the past 12 months, ranking in the top 97th percentile nationwide. Ironwood Plaza presents investors with a compelling opportunity to acquire a well-located, Dollar Tree-anchored, daily needs neighborhood shopping center in Southern California offering stable income, growing cash flow, and value-add potential.

Exclusive Investment Highlights

• Annual rental increases / projected 23% NOI growth through Year 3
• Ironwood plaza: Dollar Tree-anchored, daily needs shopping center in Riverside County, CA
• Dollar Tree (DLTR): investment grade anchor to Ironwood Plaza
• Signalized hard corner at intersection leading to/from CA-60 Freeway
• Offered below replacement cost $235 PSF / low-basis opportunity
• Minimal shopping center vacancy in high-demand trade area (Costar)

Area Overview

Moreno Valley, California, is the second-largest city in Riverside County and one of the principal population and logistics hubs of the Inland Empire, located approximately 57 miles east of downtown Los Angeles and 8 miles east of the City of Riverside. Incorporated in 1984 through the consolidation of the Moreno, Sunnymead, and Edgemont communities, Moreno Valley has since grown into a city of approximately 216,447 residents as of 2026, expanding 3.63% since the 2020 Census and ranking among the fastest-growing cities in the region. The median household income stands at $93,222, with per capita income of approximately $29,957, supported by a young, family-oriented demographic profile with a median age of 32.5 and an average household size of approximately 3.7, well above the California average of 2.9. Median property values reached $503,700 in 2024, up 9.17% year-over-year, reflecting sustained housing demand and continued in-migration from coastal markets seeking more attainable price points. The local economy is anchored by a deep and diversified employment base spanning government, healthcare, education, and logistics. Major employers include March Air Reserve Base (7,500 employees), Riverside University Health Systems (5,188), Amazon (4,854), Moreno Valley Unified School District (4,091), Skechers USA (2,500), Ross Dress for Less/dd’s Discounts (2,000), ALDI’s Western HQ (1,900), Deckers Outdoor (1,600), Kaiser Permanente (1,467), and Harbor Freight Tools (1,170), positioning the city as a primary logistics and distribution gateway for Southern California. Between 2011 and 2022, Moreno Valley added more than 34,000 jobs, with the Transportation, Warehousing, and Utilities sector driving over 60% of that growth and healthcare and government contributing another 18%. Strategic positioning along the SR-60 and I-215 freeway corridors, combined with proximity to March Inland Port Airport, provides direct access to the ports of Los Angeles and Long Beach and to the broader Southern California consumer base. The city’s trade area is supported by a regional market of over 2.4 million residents within a 20-mile radius and is home to more than 500 national retailers. With sustained population growth, a young household base, and a logistics-driven employment engine continuing to attract corporate investment, Moreno Valley remains one of the Inland Empire’s most active and durable retail trade areas for long-term investment. For more information please visit: https: //www.morenovalleybusiness.com

Financial Snapshot

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