PALM SPRINGS, Calif., Aug. 20, 2015 (GLOBE NEWSWIRE) -- Capital Square Realty Advisors, LLC announced today 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. 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.
About Capital Square Realty Advisors LLC
Capital Square Realty Advisors, LLC specializes in the creation and management of commercial real estate investment programs for Section 1031 exchange investors and cash (non-1031) investors using the Delaware Statutory Trust structure. Louis J. Rogers, founder and chief executive officer of Capital Square Realty Advisors, has been involved in the creation and management of more than 100 investment offerings totaling over $3 billion, including DST, tenant-in-common, numerous real estate funds, and multiple publicly registered non-traded real estate investment trusts.