DST Sponsor Acquires GolfSmith USA Building in Virginia

Sponsor of Delaware Statutory Trusts (DSTs), Capital Square Realty Advisors LLC, recently acquired a 24,000 square-foot retail building in a mixed-use urban development in Richmond, Virginia.

Located in Richmond’s West End, the property is minutes away from Capital Square’s headquarters.

Golfsmith USA, LLC, a subsidiary of Golfsmith International and a multi-channel retailer of golf equipment and apparel, leases 100 percent of the building.

“This property is leased on a long-term, triple net basis to an affiliate of the largest specialty golf retailer in the world,” commented Louis Rogers, founder and chief executive officer of Capital Square Realty Advisors.

Virginia’s direct golf economy was about $1.4 billion in 2012, according to a press release from Capital Square. 327 golf facilities and 2 professional golf championships contributed to this statistic.

The property’s location in West Broad Village, an urban development that provides a suburban feel, provides visitors with many attractions including dining options such as Kona Grill, entertainment like Dave & Buster’s and the Children’s Museum, plus other tenants including Whole Foods Market, REI, and The Wine Loft.

“The building has a prominent location within West Broad Village, which in total includes more than 400,000 square feet of prime real estate, a 339-unit apartment complex and various residential townhomes and neighborhoods,” added Rogers.