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1/13/15
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Komar Desert Center, a 77.5k sf, neighborhood retail center in La Quinta, was acquired free and clear of debt by an affiliate of Capital Square Realty Advisors LLC. The property was sold by AEW Capital Management L.P and its operating partner, Capital Hall Partners LLC. The price was not immediately given out.
Completed in 2008, Komar Desert Center is comprised of seven one-story buildings, and is shadow-anchored by a 139k sf Costco. The center is 95 percent leased to major tenants, including: Starbucks, BevMo!, Burgers and Beer, Toda Moda, Souplantation, Panda Express and Mimi’s Café.
Located at 79705-79845 Hwy 111, the asset is situated in northern La Quinta on 9.3 acres of land. Komar Desert Center features 900 feet of lineal frontage on Hwy 111, which averages approximately 60,000 vehicles per day and connects the property to I-10, one of California’s most prominent thoroughfares. The property is across Hwy 111 from The Home Depot.
Ryan Gallagher and CJ Osbrink of HFF represented the seller in the transaction.
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