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| Louis Rogers |
PALM SPRINGS, CA (AUG. 20,
2015) – Capital Square Realty Advisors, LLC announced that its Delaware
Statutory Trust offering, CSRA Komar Desert Center, DST, comprised of a
seven-building retail center in Southern California, has been fully subscribed
by investors.
“Komar Desert Center is a daily needs shopping center with the advantage of an excellent
location in an affluent area along the highly trafficked Highway 111 corridor,”
said Louis Rogers, founder and chief
executive officer of Capital Square Realty Advisors.
“We couldn’t be more pleased this DST
investment is fully subscribed and are enthusiastic about providing a variety
of DST opportunities for Capital Square’s investors.
“With the economy
recovering in the Coachella valley, Komar Desert Center has the potential to
provide investors with superior risk adjusted returns from a net leased
multi-tenant investment where rents increase over time.”
With a total of 77,466
rentable square feet, Komar Desert Center is approximately 92 percent leased.
Major tenants at the property include Starbucks, BevMo!, Burgers and Beer, Toda
Moda, Souplantation and Mimi’s Café. Located at 79705 – 79845 Highway 111,
Komar Desert Center was constructed in 2008 on 9.3 acres of land.
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| Komar Desert Center, 79705 – 79845 Highway 111 Palm Springs, CA |
The property has 429 parking spaces, or a
ratio of 5.5 spaces per 1,000 square feet. Komar Desert Center is located on
Highway 111, approximately three miles south of Interstate 10, connecting the
Coachella Valley to Los Angeles by traveling west, and Phoenix by traveling
east.
The Coachella valley is a
collection of affluent resort communities, including 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 visited by
many tourists from the northern United States and Canada. 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
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