Louisiana

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

by John Nelson June 25, 2025

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.

June 25, 2025

Development Leasing Activity Louisiana Retail Southeast

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

by John Nelson June 25, 2025

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.

June 25, 2025

Acquisitions Louisiana Office Southeast

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

by John Nelson June 17, 2025

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.

June 17, 2025

Acquisitions Louisiana Retail Southeast

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

by John Nelson June 12, 2025

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.

June 12, 2025

Acquisitions Hospitality Louisiana Southeast

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

by John Nelson June 11, 2025

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.

June 11, 2025

Loans Louisiana Mixed-Use Office Restaurant Retail Southeast

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

by John Nelson May 15, 2025

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.

May 15, 2025

Acquisitions Louisiana Retail Southeast

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

by John Nelson May 7, 2025

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.

May 7, 2025

Florida Loans Louisiana South Carolina Southeast Student Housing

JLL Secures Refinancings for Three Southeast Student Housing Communities Totaling $134.9M

by John Nelson May 6, 2025

TAMPA, FLA. — JLL Capital Markets has secured refinancings totaling a combined $134.9 million for three student housing communities across the Southeast. Lee Weaver, Melissa Marcolini Quinn, Rob Rothaug and Jade Starkey of JLL worked on behalf of Commercial Street Partners to secure a $97.5 million refinancing for Apella on Newport in Tampa. The three-year, floating-rate loan was placed through MF1/Limekiln Real Estate Investment Management. The newly constructed community spans 195,076 square feet at 311 North Newport Ave. near the University of Tampa campus. The property offers 576 beds across 150 fully furnished units in two-, three-, four- and six-bedroom configurations. Shared amenities include a rooftop pool, fitness center, study lounges and secured garage parking. Weaver and Quinn, along with Kenny Cutler, Rob Rothaug and Cristian Sieman of JLL, also secured a $22 million refinancing for Preserve at Tech near Louisiana Tech University in Ruston, La. Prime Finance provided the two-year, floating-rate loan to borrower RISE: A Real Estate Co. Completed in 2021 at 1913 West Alabama Ave., the community offers 588 beds across 168 units in three- and four-bedroom configurations. Shared amenities include a resort-style pool, 24-hour clubhouse, computer lab, fitness center and a gaming lounge. JLL also worked on …

May 6, 2025

Development Louisiana Retail Southeast

Kia of Covington Opens New Car Dealership in Louisiana

by John Nelson May 5, 2025

COVINGTON, LA. — Kia of Covington has opened a new dealership located at 69010 Highway 190 at I-12 in Covington, a city in Louisiana’s Northshore region in St. Tammany Parish. The dealership includes a spacious showroom, parts and service center and the opportunity for buyers to test drive new 2025 Kia models. Jason Reibert and Mike Saucier of Gulf States Real Estate & Construction Services led and managed Greenleaf Architects and High Tide Consultants throughout the project on behalf of Kevin Szura, president of Kia of Covington. Gulf States also helped with the site selection process for the new dealership. Kia of Convington plans to host a grand opening celebration for the general public in mid-May.

May 5, 2025

Acquisitions Affordable Housing Louisiana Multifamily Southeast

VPG Holdings, ASCP Purchase 250-Unit Affordable Housing Community in New Orleans

by John Nelson April 17, 2025

NEW ORLEANS — VPG Holdings and American South Capital Partners (ASCP), which is a joint venture between SDS Capital Group and Vintage Realty Co., has acquired The Marquis, a 250-unit affordable housing community located at 2651 Poydras St. in New Orleans. The seller and sales price were not disclosed. The Marquis was built in 2009 and features a mix of one-, two-, three- and four-bedroom apartments, with most units reserved for tenants earning less than 60 percent of the area median income (AMI). VPG and ASCP plan to fund deferred maintenance and interior improvements at The Marquis, with the focus on implementing more energy and water efficient appliances including water heaters, dishwashers, refrigerators and air conditioners.

April 17, 2025

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