Thursday, August 28, 2025
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AcquisitionsLouisianaSoutheastStudent Housing

Joint Venture Acquires 381-Bed Student Housing Community Near Louisiana State University

by John Nelson

BATON ROUGE, LA. — A joint venture between affiliates of Monument Square Investment Group and a New York-based single-family office has acquired University Grove, a 381-bed student housing community located 2.7 miles south of the Louisiana State University (LSU) campus in Baton Rouge. Developed in 2024, the property offers 127 cottage-style units in three-bedroom configurations with bed-to-bath parity. Capital improvements are planned for the property, including upgrades to landscaping and amenity spaces. The community was 98.5 percent leased at the time of sale. The seller and terms of the transaction were not released.

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Towne Center at Cedar Lodge
AcquisitionsLouisianaRetailSoutheast

DLC, DRA Advisors Acquire Whole Foods-Anchored Shopping Center in Baton Rouge for $81M

by Abby Cox

BATON ROUGE, LA. — A partnership between New York-based companies DLC and DRA Advisors has acquired Towne Center at Cedar Lodge, a 316,031-square-foot shopping center located near the Louisiana State University (LSU) campus in Baton Rouge. The purchase price was $81 million, according to the Baton Rouge Advocate. The seller was undisclosed. Whole Foods Market anchors the property, which was 93 percent leased at the time of sale. Other tenants include Barnes & Noble, Nike, Gap and Ulta Beauty.

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LoansLouisianaMultifamilySoutheastWalker & Dunlop

Reynolds Obtains $23.2M Agency Refinancing for Apartment Community in Bossier City, Louisiana

by John Nelson

BOSSIER CITY, LA. — New Jersey-based investment firms Reynolds Asset Management has obtained a $23.2 million Fannie Mae loan for the refinancing of Preston Place, a 272-unit apartment community located at 400 Preston Blvd. in Bossier City, a suburb of Shreveport, La. Allan Edelson of Walker & Dunlop arranged the financing. Devli Real Estate is a joint venture partner of Reynolds for Preston Place. Reynolds acquired Preston Place in 2023 for $23.7 million, and renovations began immediately after the acquisition. Originally constructed in 1985, Preston Place sits on eight acres and comprises a mix of 133 one-bedroom apartments, 138 two-bedroom apartments and one three-bedroom apartment.

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IndustrialLeasing ActivityLouisianaSoutheast

Mapletree Investments Signs LifeScience Logistics to 625,000 SF Industrial Lease in South Memphis

by John Nelson

MEMPHIS, TENN. — Mapletree Investments has signed LifeScience Logistics, a healthcare supply chain firm, to a 625,000-square-foot industrial lease in Memphis. The facility is located at 5200 Tradeport Drive within Chickasaw Distribution Center on the city’s south side. Kemp Conrad of Cushman & Wakefield | Commercial Advisors represented the landlord in the lease negotiations, while Brian Monaghan and Bob Robers of Cushman & Wakefield represented the tenant. The property comprises 605,510 square feet of warehouse space and 19,490 square feet of office space, including a 13,475-square-foot main office and 6,015 square feet of space for shipping, receiving and satellite offices. The facility is situated within proximity to I-22, U.S. Route 78, the BNSF Intermodal and Memphis International Airport. The lease marks the entry into Tennessee for LifeScience Logistics, which is investing $23.2 million into the project and expects to create 101 new jobs. The tenant received a 10-year Fast Track PILOT from the City of Memphis and Shelby County’s Economic Development Growth Engine (EDGE) for the project.

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Trader-Joes_Eagan-Minn
DevelopmentLeasing ActivityLouisianaRetailSoutheast

Feil Organization to Deliver First Trader Joe’s Grocery Store in New Orleans

by John Nelson

NEW ORLEANS — The Feil Organization plans to deliver a new Trader Joe’s grocery store at 2501 Tulane Ave. in New Orleans. The new 13,368-square-foot store will be the first location in New Orleans for the Monrovia, Calif.-based specialty grocer. Feil began assembling sites along Tulane Avenue in 2016 and executed the lease with Trader Joe’s in 2023. Colette Wharton and Katina Spera represented Feil internally in the lease negotiations, and Rich Lobkowicz of District Real Estate Advisors and Chris Ross of NAI Latter & Blum (now NAI Rampart) represented Trader Joe’s. The design-build team includes Sherman Strategies, SCNZ Architects and Landis Construction. Metairie Bank provided an undisclosed amount of construction financing for the project. The new Trader Joe’s is set to this summer, according to NOLA.com.

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AcquisitionsLouisianaOfficeSoutheast

Gayle Benson to Acquire 27-Story Office Tower in Downtown New Orleans

by John Nelson

NEW ORLEANS — Gayle Benson, owner of the NFL’s New Orleans Saints and NBA’s New Orleans Pelicans, plans to acquire 1515 Poydras, a 27-story office tower in downtown New Orleans’ central business district. Benson is under contract and the sale is expected to close in mid-July. The seller and sales price were not disclosed. Built in 1983, the tower comprises 529,000 rentable square feet of office space and a 494-space structured parking garage. The property occupies an entire city block bounded by Poydras, Perdido, LaSalle and Freret streets. Future development plans for 1515 Poydras were not disclosed, but Benson has shared she “has no plans” for the property to “compete in the traditional office tenant marketplace.” Benson has tapped Sue Tucker, formerly with JLL now with Corporate Realty Inc., to oversee property management at 1515 Poydras. Other New Orleans properties owned or once-owned by Benson include Dominion Tower (Benson Tower), the New Orleans Centre Mall (now Champions Square), the Mercedes-Benz Van Center of New Orleans and the 1,100-room Hyatt Regency Hotel.

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AcquisitionsLouisianaRetailSoutheast

Marcus & Millichap Brokers $5.8M Sale of Retail Center in Lafayette, Louisiana

by John Nelson

LAFAYETTE, LA. — Marcus & Millichap has brokered the $5.8 million sale of Lafayette Marketplace, an 87,122-square-foot retail center located in Lafayette. Super 1 Foods anchors the property, which occupies roughly 60 percent of the center. Additional tenants include Dollar Tree, Family Dollar, Metro by T-Mobile and Ace Cash Express. Built in 1995 and renovated in 2024, Lafayette Marketplace spans 10 acres and is situated near the West Village master-planned development that is currently underway. Eric Abbott and Zach Taylor of Marcus & Millichap represented the seller in the transaction. Steve Greer served as Marcus & Millichap’s broker of record in Louisiana in the transaction.

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AcquisitionsHospitalityLouisianaSoutheast

Sunstone Hotel Investors Sells Hilton New Orleans St. Charles Avenue Hotel for $47M

by John Nelson

NEW ORLEANS — California-based Sunstone Hotel Investors Inc. has sold the Hilton New Orleans St. Charles Avenue, a 252-room hotel in downtown New Orleans, for $47 million. The buyer was not disclosed. Situated in the central business district and near the French Quarter, the hotel was originally built in 1926 as the Louisiana Masonic Temple, according to the Hilton website. The Hilton New Orleans St. Charles Avenue offers a 24-7 fitness center, onsite dining options, fitness center, concierge and a business center.

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LoansLouisianaMixed-UseOfficeRestaurantRetailSoutheast

Trademark, TriGate Capital Recapitalize Perkins Rowe Mixed-Use Village in Baton Rouge

by John Nelson

BATON ROUGE, LA. — Trademark Property Co. has recapitalized Perkins Rowe, a 518,830-square-foot mixed-use town center in Baton Rouge, with Dallas-based real estate investment manager TriGate Capital LLC. Terms of the recapitalization structure were not released. The property comprises 384,171 square feet of retail space and 134,659 square feet of Class A office space. Trademark and TriGate plan to refresh and revitalize Perkins Rowe with improvements to the public spaces, updated signage, modernized office common areas, fresh paint, landscaping and other placemaking enhancements. Trademark, which has operated Perkins Rowe since 2016, has recently attracted tenants such as Free People, Drago’s, Tacos del Cartel and Tecovas to the development, as well as extended leases with anchor tenants including The Fresh Market and Cinemark Theatres.

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AcquisitionsLouisianaRetailSoutheast

STRIVE Negotiates Sale of 14,000 SF Retail Strip Center in Shreveport, Louisiana

by John Nelson

SHREVEPORT, LA. — STRIVE has brokered the sale of Bert Kouns Retail Plaza, a 14,000-square-foot retail property located in Shreveport, roughly 17 miles east of the Louisiana-Texas border. Originally built in 2002, the center was fully leased to a nail salon, Johnny’s Catfish, Unique LaChique’s Event Center, Tower Loan, Jackie’s Outlet and M&M Builders at the time of sale. Andrew Williams and Will Schubert of STRIVE represented the seller and sourced the buyer, both locally based in Louisiana. Additional terms of the sale were not disclosed.

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