Tuesday, January 13, 2015

Capital Square Realty Advisors Acquires 7-Building Retail Center in Southern California

Louis Rogers
PALM SPRINGS, CA – Capital Square Realty Advisors, LLC announced it has acquired Komar Desert Center, a seven-building neighborhood retail center in La Quinta, Calif.

“Komar Desert Center is one of the newest developments along the Highway 111 corridor, located in the midst of Southern California’s affluent Coachella Valley area,” said Louis Rogers, founder and chief executive officer of Capital Square Realty Advisors.

 “This enviable location affords Komar Desert Center daily frontage traffic of nearly 60,000 motorists and easy access for the entirety of the regional populace.”

The approximately 77,000-square foot retail center is 95 percent leased to major tenants, including:  Starbucks, BevMo!, Burgers and Beer, Toda Moda, Souplantation and Mimi’s CafĂ©.

Located at 79705 – 79845 Highway 111, Komar Desert Center was constructed in 2008 on 9.3 acres of land.

 The property has 429 parking spaces, or a ratio of 5.5 spaces per 1,000 square feet. The property is shadow-anchored by a 139,000-square-foot Costco and is across Highway 111 from The Home Depot.

Komar Desert Center, La Quinta, CA
Komar Desert Center is on Highway 111, approximately three miles south of Interstate 10, which connects the Coachella Valley to Los Angeles to the west, and Phoenix to the east.

The Coachella valley is a collection of affluent resort communities that include Palm Springs, Palm Desert, La Quinta, Rancho Mirage, Desert Hot Springs, Indian Wells and Indio. 

The area typically has a warm climate, and with proximity to the Greater Los Angeles area, is a popular tourist destination throughout the year. 

The Coachella valley retail market has achieved positive net absorption for five of the previous six quarters.

For a complete copy of the company’s news release, please contact:

Julie Leber
Spotlight Marketing Communications
949.427.5172, ext. 703
509-338-5676 - cell

HSA Commercial and Innovative Capital Advisors Equity Fund Plans Adaptive Reuse of Schwaab Stamp Factory Building in Wauwatosa, WI

Timothy C. Blum
CHICAGO, IL and MILWAUKEE, WI  — A joint real estate fund formed by commercial mortgage lending specialists, Innovative Capital Advisors (ICA), and Chicago-based HSA Commercial Real Estate, a full-service real estate firm, recently purchased the Schwaab Stamp Factory building located at the southwest corner of Burleigh Street and 114th Street across from The Mayfair Collection in Wauwatosa, Wis.

HSA Commercial plans to adaptively repurpose and expand the current light industrial building into a 32,000-square-foot multi-tenant retail shopping center that will complement the firm’s mixed-use development taking place across the street.

The Schwaab building, located at 11415 West Burleigh Street, is immediately south of The Mayfair Collection, a 270,000-square-foot retail shopping center anchored by Nordstrom Rack and Saks Fifth Avenue OFF 5TH.

“In a lot of ways, we see the Schwaab property as being a gateway to The District given its prominent visibility to travelers on Highway 45 and visitors of The Mayfair Collection,” said Tim Blum, executive vice president of Retail Development with HSA Commercial.

Rendering of The Mayfair Collection Development
Wauwatosa, WI
 “In order to achieve the City’s vision for a vibrant, mixed-use corridor, we necessarily have to redevelop this building into a retail flagship that will signify the transformation of this historically industrial area.”

HSA Commercial plans to break ground on the redevelopment in fall 2015 with delivery scheduled for retail tenants in summer 2016.

For a complete copy of the company’s news release, please contact:

Mark Thomton, mthomton@taylorjohnson.com, 312-267-4523