CSRA RICHMOND GOLF RETAIL, DST
Location: 2000 Old Brick Road, Glen Allen (Richmond), Virginia 23060
INVESTMENT COST $6,770,000
EQUITY RAISE: $2,870,000
- CASH ON CASH RETURN YR 1: 6%
- OFFERING LOAN-TO-VALUE: 57.61%
- FIXED INTEREST RATE: Approximately 4.35%
Golfsmith is the largest specialty golf-retailer in the world, operating more than 150 golf-oriented retail stores throughout the U.S. and Canada, as well as two e-commerce sites.
Old Brick Road, Glen Allen (Richmond), Virginia
Golfsmith USA, LLC is a subsidiary of Golfsmith International, the largest specialty golf retailer in the world, operating stores in the U.S. and Canada.
INVESTMENT HIGHLIGHTS
- 100% leased to Golfsmith USA, LLC through June 30, 2029 on a triple net basis.
- The triple net lease means that Golfsmith pays all taxes, insurance, maintenance and repair costs, protecting investor cash flow from inflation.
- Golfsmith is the largest specialty golf-retailer in the world, operating more than 150 golf-oriented retail stores throughout the U.S. and Canada, as well as two e-commerce sites.
- Located within minutes of Capital Square’s headquarters in the West Broad Village master planned urban development in the heart of Richmond’s West End. Brick streets lined with maple trees connect stately single family attached homes to shopping, dining and entertainment experiences, all within walking distance.
- West Broad Village has more than 400,000 square feet of retail space, with diversified tenants, including Whole Foods Market, REI and Home Goods; several restaurants, such as Kona Grill, Dave & Busters and The Wine Loft; Children’s Museum of Richmond—Short Pump; and “A Loft” Starwood hotel.
Virginia Golf Economy
Virginia is home to some of the country’s most challenging and historic golf courses for enthusiasts enjoying the state’s varied geography and long playing season. With 327 golf facilities and two professional golf championships, golf in the “Old Dominion” is more than just an enjoyable pastime—it is a key industry contributing to the vitality of local communities and the state economy. In 2012, Virginia’s direct golf economy was approximately $1.4 billion. Golf brings visitors to the state, drives new construction and residential development, generates retail sales, and creates demand for a myriad of goods and services. When the total economic impact of these golf-related activities is considered, Virginia’s golf industry supported approximately $2.5 billion of total economic activity, nearly 30,000 jobs, and $733.4 million of wage income in 2012. See Virginia Golf Economy report published by Golf 20/20 in January 2014.
Golfsmith USA Retail Store
Golfsmith USA, LLC is a subsidiary of Golfsmith International, the largest specialty golf retailer in the world, operating stores in the U.S. and Canada. Golfsmith operates as an integrated, multi-channel retailer, offering customers the convenience of shopping through any of its more than 150 experiential retail locations or 24/7 shopping at its e-commerce sites. It offers extensive product selection of premier branded golf equipment as well as its proprietary products, advanced club-fitting services and pre-owned clubs.
ABOUT CAPITAL SQUARE
Capital Square 1031, LLC specializes in the creation and management of real estate investment programs for Section 1031 exchange investors and other investors using the Delaware Statutory Trust structure. Louis J. Rogers, founder and chief executive offi cer of Capital Square, has been involved in the creation and management of more than 100 investment offerings totaling over $3 billion, including DSTs, tenant-in-common offerings, numerous real estate funds, and multiple publicly registered non-traded real estate investment trusts.