REBusinessOnline

Stirling Properties Purchases 140,000 SF Pepsi Distribution Center in Livingston, Louisiana

LIVINGSTON, LA. — Stirling Properties has purchased the Pepsi Distribution Center, a 140,000-square-foot industrial facility located at 28517 S. Front Road in Livingston. Heck Realty/Raymond Heck sold the property for an undisclosed price.Built in 2016, the Pepsi Distribution Center sits on 15 acres and is located along the Interstate 12 corridor. The facility is fully occupied by PepsiCo. Inc. and serves as a logistics hub for PepsiCo brands, including Gatorade, Frito-Lay, Starbucks and …

Cooper Commercial Brokers $17.2M Sale of Bluebonnet Parc Mixed-Use Center in Baton Rouge

BATON ROUGE, LA. — Cooper Commercial Investment Group has brokered the sale of Bluebonnet Parc, a four-building mixed-use center in Baton Rouge. Dan Cooper of Cooper Commercial Investment Group represented the seller, Viking Partners Bluebonnet LLC. Brannon 230 LLC purchased the property for $17.2 million.Located at 5915 Bluebonnet Blvd., Bluebonnet Parc is located close to Interstate 10 and is about 9.8 miles from downtown Baton Rouge. Additionally, the property is about 7.7 miles from …

SRS Brokers $2.6M Sale of McDonald’s-Occupied Retail Property in Prairieville, Louisiana

PRAIRIEVILLE, LA. — SRS Real Estate Partners has arranged the $2.6 million ground-lease sale of a McDonald’s-occupied, 4,268-square-foot retail property located at 15022 Airline Highway in Prairieville, about 22.9 miles south of Baton Rouge. Newly built, the property includes a drive-thru and is situated on 1.4 acres near Interstate 10. The McDonald’s is slated to open by late September. The sale had a record low cap rate.Matthew Mousavi, Patrick Luther and Sabrina Kortlandt of SRS …

Dwight Capital Provides $31.4M HUD-Insured Loan for Highland Club Apartments in Baton Rouge

BATON ROUGE, LA. — Dwight Capital has provided a $31.4 million HUD-insured loan for Highland Club Apartments, a 279-unit garden-style multifamily community in Baton Rouge. Located at 17505 Jefferson Highway, Highland Club is situated about 15.5 miles from downtown Baton Rouge.Built in three phases between 2003 and 2019, the property includes 28 buildings and a clubhouse situated on over 23 acres. The average square feet of the units is 1,162 square feet. Community amenities include a pet …

Hunt Capital Invests $8.8M in LIHTC, Historic Tax Credit Equity for Affordable Housing Project in Monroe, Louisiana

MONROE, LA. — Hunt Capital Partners has invested $8.8 million in construction financing to fund the redevelopment of the Miller-Roy Building in Monroe. The investment includes $6.4 million in Low Income Housing Tax Credit (LIHTC) equity and $2.4 million in state and federal Historic Tax Credit equity. The project will also include the construction of multifamily housing units in a newly built property known as Bayou Savoy Building. Michael Echols Enterprises is the developer for the …

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 …

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