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DevelopmentIndustrialLouisianaSoutheastTop Stories

SpaceX to Invest $100B in Spaceport Campus in Vermilion Parish, Louisiana 

by Matthew Auchincloss

VERMILION PARISH, LA. — Space Exploration Technologies Corp. (SpaceX) (NASDAQ:SPCX) plans to invest at least $100 billion to build a spaceport facility in Vermilion Parish, located southwest of Lafayette in coastal Louisiana. The site, which will be named Starbase, Louisiana, is located on an 18-mile strip of Pecan Island. At full build-out, the site will feature five launch complexes with two launchpads, each facilitating thousands of space launches annually, as well as propellant production facilities. SpaceX intends to begin construction in 2027 and launch its first rocket from the location by 2029. Starbase, Louisiana will eventually be the company’s largest launch site, per SpaceX.  “We’re preparing to build a spaceport that, until now, has only existed in science fiction,” Founder and CEO of SpaceX Elon Musk said. “SpaceX was founded to bring about a future where humans are out exploring amongst the stars, which will only be possible when we make going to space as routine as flying on an airplane. Starbase, Louisiana will unlock that future.” The company brokered a Payment in Lieu of Taxes (PILOT) agreement with Vermilion Parish that will see the parish receive a $20 million upfront payment as well as $25 million each year for …

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DevelopmentIndustrialLouisianaSoutheast

Amazon to Invest $6B to Build New Data Center Campus in Shreveport, Louisiana

by Abby Cox

SHREVEPORT, LA. — Amazon has unveiled plans to invest an estimated $6 billion in northwest Louisiana for the development of a new data center. The data center, which will be located at Resilient Technology Park in Shreveport, is expected to create 210 direct jobs and 499 indirect jobs. This expansion marks the third data center planned in the state, bringing Amazon’s data center investment in Louisiana to $18 billion. The announcement comes less than six months after its initial $12 billion investment in February. Amazon will continue to partner with STACK Infrastructure, the developer and owner of the three planned campuses, to lead the construction and development of the data center facilities.  The data centers in Louisiana are expected to rely on air cooling for most of the year, using water for cooling only when temperatures exceed approximately 85 degrees Fahrenheit —which is anticipated to occur less than 13 percent of the year in the region. Amazon also plans to invest up to $400 million in public water infrastructure to support all three campuses and has coordinated with local utilities to ensure sufficient capacity for both its facilities and existing customers. The company says it will fund all water and wastewater …

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The-Melrose
AcquisitionsLouisianaMultifamilySoutheast

Marcus & Millichap Arranges Sale of Two Louisiana Multifamily Properties Totaling 462 Units

by Abby Cox

BATON ROUGE AND NATCHITOCHES, LA. — Marcus & Millichap has arranged the sale of two multifamily properties totaling 462 units in Louisiana: Magnolia Trace in Baton Rouge and The Melrose in Natchitoches. John Hamilton and Jessica Thompson of Marcus & Millichap marketed the properties on behalf of the undisclosed sellers. Further details of the transaction were also not disclosed. Situated near Louisiana State University (LSU), Magnolia Trace spans 36 residential buildings and features 246 apartments in one-, two- and three-bedroom floorplans. Built in 1975 and renovated in 2025, recent improvements at the property include full roof replacements, façade rehabilitation and interior/exterior infrastructure upgrades. The property includes a swimming pool, leasing office and laundry center. Located adjacent to Northwestern State University’s campus, The Melrose was built in 1973 and comprises 216 apartments that range in layouts from one- to three-bedrooms. Amenities include a swimming pool, fitness center, laundry facilities and walking/biking trails. Recent improvements at the complex include a full roof replacement, HVAC replacements, pool upgrades and new flooring.

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DevelopmentHospitalityLouisianaSoutheast

PENN Entertainment to Invest $195M to Relocate Riverboat Casino in New Orleans

by John Nelson

NEW ORLEANS — PENN Entertainment Inc. plans to invest approximately $195 million to relocate its Boomtown Casino & Hotel New Orleans riverboat casino operations to a new landside property on adjacent land, pending regulatory approval. If approved, the publicly traded gaming company will rebrand the property, which is expected to open in 2029, as Hollywood Casino New Orleans. The investment will include the build-out of roughly 140,000 square feet of new development, approximately 875 slot machines, 45 table games, a retail sportsbook and multiple dining options. The existing riverboat will be vacated upon opening of the new property, and PENN expects to keep the existing hotel open. The investment would represent the fourth landside relocation of a riverboat casino for PENN, which expects to finance the project with cash on hand, allowing for the option to access its balance sheet or other sources of liquidity. PENN currently operates four other casino destinations in Louisiana, including L’Auberge Casino Resort Lake Charles, L’Auberge Casino Hotel Baton Rouge and Margaritaville Resort Casino and Boomtown Casino Hotel in Bossier City.

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Mandeville-Marketplace
AcquisitionsLouisianaRetailSoutheast

SRS Real Estate Negotiates $8M Sale of Retail Center in Mandeville, Louisiana

by Abby Cox

MANDEVILLE, LA. — SRS Real Estate Partners has negotiated the $8 million sale of Mandeville Marketplace, a 62,324-square-foot retail center located in Mandeville. Built in 1988 on six acres, the property was fully leased at the time of sale to five tenants including Altitude Trampoline Park and Crunch Fitness. Sabrina Sapienza and Chad Lieber of SRS Real Estate represented the seller, a Louisiana-based owner. Ben Stalter of Maestri-Murrell represented the buyer, a Louisiana-based private investor, in the transaction. Both parties requested anonymity.

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AcquisitionsLouisianaRetailSoutheast

Marcus & Millichap Arranges Sale of 33,744 SF Retail Center in Prairieville, Louisiana

by John Nelson

PRAIRIEVILLE, LA. — Marcus & Millichap has arranged the sale of Commerce Centre, a 33,744-square-foot retail center located at 17097 Airline Highway in Prairieville, about 18 miles southeast of Baton Rouge. Built in 2015 on four acres, the multi-tenant retail center features 14 suites that were 72 percent occupied at the time of sale. Cole Voyles, Gus Lagos and Alex Wolansky of Marcus & Millichap’s Houston office represented the seller, a local owner, in the transaction. Steve Greer, Marcus & Millichap’s broker of record in Louisiana, participated in the negotiations. The buyer was an unnamed, East Coast-based investor. The sales price was also not disclosed, but Commerce Centre traded at the full asking price, according to Marcus & Millichap.

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AcquisitionsLouisianaMultifamilySoutheast

Muss Development, Amesbury Acquire 270-Unit Apartment Community in Lake Charles, Louisiana

by John Nelson

LAKE CHARLES, LA. — Muss Development LLC and Amesbury Cos. have acquired Erdace Apartments, a 270-unit multifamily community in downtown Lake Charles. The seller and sales price were not disclosed. The co-owners assumed a HUD-insured loan as part of the acquisition and have launched a multimillion-dollar renovation of the property, which will be rebranded as The Ryan Apartments. The capital improvement program includes upgrades and redesigns of the lobby, façades, hallways and balconies. Erdace Apartments offers studio, one- and two-bedroom apartments, as well as a clubhouse, lounge, café, fitness center, business center, indoor and outdoor pavilions and a large outdoor swimming pool.

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DevelopmentLouisianaMultifamilySoutheast

Audubon Underway on Redevelopment of 446-Unit Apartment Complex in Baton Rouge

by John Nelson

BATON ROUGE, LA. — Atlanta-based multifamily investment firm Audubon is redeveloping Fairway View Apartments, a 446-unit complex in the Westdale Heights neighborhood of Baton Rouge. The complex, which Audubon is rebranding as Palmer Club Apartments, is undergoing renovations, including the addition of a fitness center and a centralized mail handling system. Each apartment will receive approximately $8,000 to $10,000 in capital improvements. Palmer Club offers one-, two- and three-bedroom units with rents ranging from $775 to $1,400. 

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AcquisitionsLouisianaMultifamilySoutheast

IPA Brokers Sale of 157-Unit Apartment Community in Lake Charles, Louisiana

by John Nelson

LAKE CHARLES, LA. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of Cottages at Morganfield, a 157-unit multifamily property in Lake Charles. Completed in 2024, the property is situated on 25 acres within the master-planned MorganField development. Will Balthrope and Drew Garza of IPA, along with Chris Shaheen of Marcus & Millichap, represented the seller and procured the buyer, Four Corners Development Group, in the transaction. The seller and sales price were not disclosed. Steve Greer served as Marcus & Millichap’s broker of record in Louisiana for the deal. Cottages at Morganfield features one- or two-bedroom cottage-style apartments averaging 1,057 square feet in size, as well as a swimming pool, clubhouse, fitness center, dog park and a grilling area.

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AcquisitionsLouisianaRetailSoutheast

Kohan Retail Acquires 964,123 SF Pecanland Mall in Monroe, Louisiana

by John Nelson

MONROE, LA. — Kohan Retail Investment Group has acquired Pecanland Mall, a 964,123-square-foot regional shopping center located in Monroe. Originally opened in 1985, the mall features more than 100 specialty shops, along with a food court. Tenants include Belk, Dillard’s, Dick’s Sporting Goods, JCPenney, American Eagle, Aerie, Bath & Body Works, The Children’s Place, Old Navy and Victoria’s Secret. Newmark brokered the transaction. The seller and sales price were not disclosed.

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