Capital Square 1031 Completes 3 Retail DST Offerings
Almost 65 investors subscribed to CSRA Columbus OH Fitness DST, CSRA Grocery Portfolio I DST and CSRA Grocery Portfolio II DST.
By Laura Calugar
Richmond, Va.—Capital Square 1031 recently announced that three of its Delaware statutory trust offerings, comprising five grocery-anchored shopping centers in North Carolina and South Carolina, and one fitness center in Columbus, Ohio, have been fully subscribed by investors.
The CSRA Grocery Portfolio I encompasses three shopping centers anchored by Food Lion in North and South Carolina. One of the properties is West Point Village, a 48,246-square-foot shopping center located at 433 North Carolina Highway 49 South in Asheboro, N.C. The second one is College Lakes, a 43,041-square-foot shopping center at 929 McArthur Road in Fayetteville, N.C. The last one is 49,800-square-foot Kris Krossing, a shopping center located at 3320 4th Ave. in Conway, S.C.
The CSRA Grocery Portfolio II includes two shopping centers anchored by Food Lion in North Carolina. Totaling 106,943 square feet of retail space, the two properties are located at 824 S. Van Buren Rd. in Eden and 1005 Monroe St. in Carthage.
CSRA Columbus OH Fitness DST includes a 53,206-square-foot, two-story fitness facility located at 3474 Sawmill Drive in Powell, a suburb of Columbus, Ohio. The building is 100 percent leased on a long-term basis to LA Fitness.
“We are pleased to fully subscribe these three DST offerings, each comprised of retail real estate anchored by a high quality, credit tenant. Our firm has closed 31 DST offerings since inception, and we look forward to continuing to provide investment grade, tax-advantaged real estate opportunities to investors,” said Louis Rogers, founder & CEO of Capital Square 1031, in a prepared statement.
As of the middle of February 2017, the firm oversees a national portfolio of 58 real estate assets valued at approximately $600 million (based on investment cost).
Image via Google Street View