Komar Desert Center
La Quinta, CA
Acquired the approximately 80,000 square foot retail center on 9.3 acres anchored by Costco (not included in the transaction) located at intersection of Highway 111 and Jefferson Blvd in LaQuinta, CA. The center contained quality tenants such as Starbucks, Mimi’s Café, Beverages & More and Panda Express. Implemented leasing program and stabilized the center at 95% occupancy (from approximately 80%). Acquired an additional 7.3-acre adjacent to the center for future development of a mixed-use retail and a second 13 acre site for future development of hotel, retail and residential. Implemented a leasing program and increased the tenancy of the retail center and sold the additional land after developing plans for an additional retail center on the 7.3 acre site and a subdivision plan for the 13 acre site including hotel, retail and multifamily.