REBusinessOnline

SRS Brokers $8.9M Sale of Retail Property in Suburban New Orleans Leased to Winn-Dixie

LAPLACE, LA. — SRS Real Estate Partners’ National Net Lease Group has brokered the $8.9 million sale of a 62,297-square-foot, single-tenant retail property in the New Orleans suburb of LaPlace. The property is on a long-term, absolute triple-net lease to grocer Winn-Dixie. The lease is corporate guaranteed by Winn-Dixie Stores Inc.Sean Lutz and Dan Elliot of SRS represented the seller, a private investor from Baton Rouge, in the transaction. The buyer was a family office also based in …

Amazon to Open 650,000 SF Fulfillment Center in Northwestern Louisiana, Create 1,000 Jobs

SHREVEPORT, LA. — Amazon Inc. (NASDAQ: AMZ) has planned a 650,000-square-foot fulfillment center in the northwestern Louisiana city of Shreveport. The Louisiana Economic Development (LED) organization claims the development will generate $200 million in capital investment and add more than 1,000 jobs to the local economy.The site of the multi-level building, which will feature automated inventory management and shipping technology, is located within Hunter Industrial Park, a 135-acre …

Kimpton Hotels & Restaurants to Open 202-Room Hotel in Downtown New Orleans

NEW ORLEANS — Kimpton Hotels & Restaurants, a San Francisco-based boutique hotel company, will soon open Kimpton Hotel Fontenot, a 202-room boutique hotel located in New Orleans’ Central Business District on the corner of Poydras and Tchoupitoulas streets. The hotel will open on May 11 of this year, and guests are now able to book stays.Designed by MARKZEFF, Kimpton Hotel Fontenot will feature two dining and cocktail concepts within the property, led by executive chef Chris Lusk and …

NorthMarq Secures $2.4M Acquisition Loan for Royal Eden Apartments in Metro New Orleans

SLIDELL, LA. — NorthMarq has secured a $2.4 million loan for the acquisition of Royal Eden Apartments, a 50-unit property situated outside of New Orleans in Slidell.Lawrence Larisma and Ryan Taylor of NorthMarq’s Charlotte office, in coordination with NorthMarq’s San Antonio office, secured the Freddie Mac loan through an unnamed regional bank. The 10-year loan was structured with two years of interest-only payments, a fixed interest rate and a 20-year amortization schedule.Royal …

Lineage Logistics to Build $42M Expansion of Cold Storage Facility at Port of New Orleans

NEW ORLEANS — Lineage Logistics, an industrial REIT specializing in cold storage real estate, will build a $42 million expansion of its Jourdan Road cold storage facility at Port of New Orleans (Port NOLA). The State of Louisiana is providing $10 million in capital outlay funds, while Port NOLA is providing $2 million in funds. Michigan-based Lineage Logistics is investing the remaining $30 million in capital for the cold storage project, and also is expected to utilize Louisiana’s Quality …

Landmark Properties Purchases 898-Bed Student Housing Property in Baton Rouge

BATON ROUGE, LA. — Landmark Properties, a student housing developer and owner-operator based in Athens, Ga., has purchased The Exchange at Baton Rouge, a 299-unit, 898-bed student housing property located at 449 Ben Hur Road in Baton Rouge. The sales price was not disclosed, and Halstatt was Landmark's capital partner on this transaction. The Exchange at Baton Rouge is a garden-style property located approximately 1.5 miles from the Louisiana State University (LSU) campus and is situated …

Hertz Investment Group Opens Connect Hub Coworking at 400 Poydras Tower in New Orleans

NEW ORLEANS — Hertz Investment Group has opened a new coworking space in New Orleans called Connect Hub Coworking at 400 Poydras Tower. The space is situated on the ninth floor within Hertz’s 400 Poydras Tower, a 32-story, 620,000-square-foot office building in the city’s central business district. Hertz invested about $1 million into the project.According to Jim Ingram, chief investment officer of Hertz, the property is offering desk-to-office options for remote workers, those …

Morgan Properties, Olayan America Acquire 14,414-Unit Apartment Portfolio Across Midwest, Southeast for $1.7B

KING OF PRUSSIA, PA. — Morgan Properties and Olayan America have acquired a portfolio of 48 apartment communities totaling 14,414 units in 11 states for $1.7 billion. STAR Real Estate Ventures, a joint venture between El-Ad National Properties LLC and Yellowstone Portfolio Trust, was the seller.The portfolio, named the North Star Portfolio, consists of Class B assets in Florida, Texas, Georgia, North Carolina, South Carolina, Louisiana, Michigan, Illinois, Indiana, Ohio and Maryland. On …

HREC Brokers Sale of Sheraton Galleria Metairie Hotel in Metairie, Louisiana

METAIRIE, LA. — HREC Investment Advisors has brokered the sale of the 181-unit Sheraton Galleria Metairie Hotel located in Metairie. Len Wormser of HREC exclusively represented the seller, Hotel Capital LLC, in the transaction. Barry Swanson, Michael Salloway, Ketan Patel and Scott Stephens of HREC assisted in the transaction as well. The buyer, Atlanta-based Generation Hospitality, will manage the hotel. The sales price was not disclosed.The Sheraton Galleria Metairie Hotel is located at …

Audubon to Develop $55M Apartment Community in Metairie, Louisiana

METAIRIE, LA. — Audubon will develop a five-story, $55 million apartment community in Metairie known as The Metro at Clearview. The 270-unit development will feature units averaging 925 square feet and leases ranging from an average of $1,500 to $3,000 per month. The apartment complex is the multifamily component of Clearview City Center, a redevelopment of the former Clearview Shopping Center. The $100 million mixed-use development, owned by the Richards family, sits on a 35-acre site …

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