Louisiana Archives - REBusinessOnline

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

John Nelson — Thu, 16 Jul 2026 15:08:36 +0000

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

John Nelson — Tue, 16 Jun 2026 13:59:16 +0000

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

John Nelson — Tue, 02 Jun 2026 13:54:15 +0000

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

John Nelson — Thu, 21 May 2026 13:17:23 +0000

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

John Nelson — Tue, 12 May 2026 12:15:00 +0000

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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SRSA Negotiates $7.2M Sale of Ground-Floor Retail Condominium in New Orleans

Abby Cox — Fri, 01 May 2026 13:43:52 +0000

NEW ORLEANS — SRSA Real Estate has negotiated the $7.2 million sale of a ground-floor retail condominium at 1200 Poydras St. in New Orleans near the Caesars Superdome, home of the NFL’s New Orleans Saints. Chick-fil-A and Hurts Donut anchor the 17,270-square-foot space, with Juicy Seafood expected to open immediately. Steve Reisig and Christopher Robertson Jr. of SRSA Real Estate represented the seller, an entity doing business as Poydras Properties II LLC, in the transaction. The buyer requested anonymity.

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Red Oak Capital Provides $8.4M Loan for Hotel-to-Multifamily Conversion Project in Covington, Louisiana

John Nelson — Wed, 01 Apr 2026 13:21:33 +0000

COVINGTON, LA. — Red Oak Capital Holdings LLC has provided an $8.4 million loan for a hotel-to-multifamily conversion project in Covington. The borrower, an investment group represented by Nebo Capital, is using the financing to purchase the former WeStay Suites hotel at 140 Holiday Blvd. and reposition it into an 87-room apartment community. The 12-month bridge loan will fund the $6.9 million acquisition and $1.8 million in planned improvements for the conversion. The five-story, 89,831-square-foot hotel was built on 2.9 acres in 2009 and features an outdoor pool, fitness center and community rooms. The borrower has completed a similar hotel-to-multifamily adaptive reuse project in the Covington area, according to Red Oak Capital. The borrower plans to refinance the bridge loan upon completion of the renovation with permanent or agency debt.

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Skysoar Capital Buys 32-Story One Canal Place Office Tower in New Orleans

John Nelson — Tue, 31 Mar 2026 14:14:31 +0000

NEW ORLEANS — Skysoar Capital Partners has purchased One Canal Place, a 32-story office tower located at 365 Canal St. in New Orleans. The sales price was not disclosed. Johnny Lamberson and Terry Radford of CBRE’s Memphis represented the seller, OCP Office Owner LLC, a partnership formed by Loeb Partners Realty LLC and Aetna. The seller has owned One Canal Place since 2002, according to Corporate Realty, which served as the Louisiana broker of record in the transaction. Corporate Realty will continue to provide property management and leasing services at the tower on behalf of One Canal Place Leasing LLC, a limited liability corporation created by Skysoar Capital. Completed in 1979 near the Mississippi River, One Canal Place encompasses 630,581 rentable square feet of office space and is part of a mixed-use complex that includes The Shops at Canal Place, The Westin New Orleans Hotel and a 1,650-space parking garage. Office tenants include law firm Baker Donelson, which recently signed a nearly 40,000-square-foot lease to occupy the top two floors, as well as Phelps Dunbar LLP; The New Orleans Passport Center; Schouest, Bamdas, Soshea & BenMaier PLLC; Foley & Judell LLP; Salley, Hite, Mercer & Resor LLC; and La Petite…

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Federal Courts Diverge on Takings Clause Protections

John Nelson — Thu, 26 Feb 2026 12:49:00 +0000

By Angela Adolph, Esq. of Kean Miller LLP Recent federal court decisions reveal diverging interpretations of how a landmark Supreme Court ruling on the Fifth Amendment’s takings clause affects state administration of unclaimed property. Taken together, the cases expose state governments to uncertainty and litigation risk over the constitutional limits of their authority. Property, Post-Tyler The current ambiguity reflects increased national scrutiny of state powers in the wake of the U.S. Supreme Court’s pivotal 2023 decision in Tyler vs. Hennepin County, Minnesota. In that case, the county had seized a residential condominium and sold it for $40,000 to satisfy $15,000 in unpaid property taxes. The former owner sought the $25,000 in residual sale proceeds. The Supreme Court found that a taxpayer’s compensable interest in property applies to both the property and equity in the form of excess proceeds generated from a forfeiture sale of that asset. The decision clarified that economic value is property subject to the takings clause, which prohibits taking private property for public use without just compensation. In Tyler, the Supreme Court emphasized that the takings clause protects more than physical possession; it also protects a citizen’s economic value in property. A state cannot deprive a citizen…

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JLL Arranges $61M Loan for Energy Centre Office Tower in New Orleans

John Nelson — Wed, 25 Feb 2026 15:17:29 +0000

NEW ORLEANS — JLL has arranged a $61 million loan for Energy Centre, a 757,257-square-foot office tower located at 1100 Poydras St. in New Orleans. Situated in city’s central business district, the Class A, 39-story building is the fourth-tallest property in New Orleans, according to JLL. Scott Aiese, Alex Staikos and Clayton Ross of JLL arranged the fixed-rate, five-year permanent loan on behalf of the borrower, Triangle Capital Group. Fully renovated in 2009, Energy Centre was 86.4 percent leased at the time of loan closing to a tenant mix that includes legal, finance, medical and other professional services, with a weighted average lease tenure (WALT) of nearly 18 years.

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Red Oak Provides $3.5M Bridge Loan for Apartment Community in Bossier City, Louisiana

John Nelson — Mon, 23 Feb 2026 15:20:03 +0000

BOSSIER CITY, LA. — Red Oak Capital Holdings LLC has provided a $3.5 million bridge loan for the acquisition and repositioning of Swan Lake Apartments, an 82-unit community located at 4632 Ruffin St. in Bossier City. Stratos Athanassiades, Thomas Gorski and James Myatt of Red Oak secured the loan on behalf of the borrower, GemStar Capital Group. The loan features an initial 18-month term and was underwritten at a loan-to-stabilized-value ratio of 73.46 percent. Built in 1970, Swan Lake comprises 12 two-story buildings and was 82 percent occupied at loan closing. The 5.2-acre property features a unit mix of 35 one-bedroom, 41 two-bedroom and six three-bedroom apartments. The borrower plans to make light interior renovations and modest exterior repairs/enhancements over the next 12 months. Swan Lake is the first acquisition outside of the Northeast for GemStar.

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Marcus & Millichap Negotiates $40.5M Sale of Hilton-Branded Hotel in Downtown Baton Rouge

Abby Cox — Mon, 16 Feb 2026 15:53:20 +0000

BATON ROUGE, LA. — Marcus & Millichap has negotiated the $40.5 million sale of the Hilton Baton Rouge Capital Center, a 291-room hotel located in downtown Baton Rouge along the banks of the Mississippi River. Chase Dewese, Jack Davis and Joce Messinger of Marcus & Millichap represented the buyer, Orlando-based Northshore Development, in the transaction. Steve Greer served as Marcus & Millichap’s broker of record in Louisiana. The seller was not disclosed. Amenities at the hotel include an onsite restaurant, swimming pool, fitness center, business center, meeting rooms and an airport shuttle.

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Port Authorities Advance the Southeast’s Industrial Sector With Infrastructural Investments

John Nelson — Fri, 06 Feb 2026 12:39:00 +0000

In 2022, the Port of New Orleans (Port NOLA) announced the Louisiana International Terminal (LIT), a new $1.8 billion container terminal coming to Violet, a small city about 10 miles downriver (or south) from New Orleans in St. Bernard Parish. The project is a public-private partnership between Port NOLA and two private maritime industry leaders, Ports America and Terminal Investment Ltd., and is being funded with private capital and public funding from the State of Louisiana and federal sources. The U.S. Army Corps. of Engineers is managing LIT’s environmental review and permitting process, after which the public-private partnership will begin construction. Set for completion in 2028, the ambitious project is expected to generate 18,000 new jobs by 2050 and handle 2 million TEUs (twenty-foot equivalent units) of cargo traffic annually. “I consider it the most important project in the entire region,” says Andrew Marcus, founder of local commercial real estate services firm Agile Coast. “From an economic development perspective and from a quality-of-life perspective, it is the single-most important project for our region, period. The LIT is going to be the beachhead for getting modernized containerized cargo ships to come in, and we have the ability to have several terminals…

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Dowd Cos. Negotiates $4.1M Sale of Retail Center in Abbeville, Louisiana

John Nelson — Thu, 08 Jan 2026 15:24:54 +0000

ABBEVILLE, LA. — The Dowd Cos. has negotiated the sale of Lauren Parc, a 34,125-square-foot retail center located in the Baton Rouge submarket of Abbeville. The buyer, an out-of-state investment firm, purchased the property for $4.1 million. The seller was also not disclosed. John Dowd and Theresa Johnson represented both parties in the transaction. Built in 2014, Lauren Parc was 95 percent leased at the time of sale to tenants including Dollar Tree, AT&T, Anytime Fitness and Hibbett Sports. The property is shadow-anchored by a Walmart Supercenter.

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Marcus & Millichap Brokers Sale of 68-Room Comfort Inn New Orleans Airport Hotel

Abby Cox — Tue, 06 Jan 2026 15:20:40 +0000

SAINT ROSE, LA. — Marcus & Millichap has brokered the sale of the 68-room Comfort Inn New Orleans Airport hotel in Saint Rose. Built in 2010, the three-story property is situated at 10151 W. Airline Highway, roughly five miles from the Armstrong New Orleans International Airport. Amenities include complimentary breakfast, a fitness center, business center, meeting facilities and an airport shuttle. David Altman and Jeff Halavacs of Marcus & Millichap represented the seller, Siddiqui Enterprises LLC, and procured the buyer, NOLA Airport Hospitality LLC, in the transaction. Steve Greer was Marcus & Millichap’s broker of record in Louisiana.

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GMH Communities, AEW Capital Buy Two Student Housing Communities Near Clemson University, LSU

John Nelson — Tue, 23 Dec 2025 15:37:28 +0000

CLEMSON, S.C. AND BATON ROUGE, LA. — A joint venture between GMH Communities and AEW Capital Management has acquired two student housing communities in Clemson and Baton Rouge. The acquisitions included Dockside at Clemson, a 633-bed student housing property located near the Clemson University campus in South Carolina; and Flatiron, a 293-bed community located near Louisiana State University (LSU) in Baton Rouge. Dockside has been rebranded The Cove at Clemson as part of the acquisition. The property offers units in studio, one-, two-, three- and four-bedroom configurations with bed-to-bath parity. Shared amenities include study rooms and lounges, a coffee bar, fitness center, lakefront boardwalk, game room, dog park and walking paths. Flatiron offers units in studio, one-, four- and five-bedroom configurations with bed-to-bath parity. Shared amenities include a fitness center, computer lab, pool, grilling station, yoga studio, clubhouse, dog park and study rooms. Mike Brady, Jake Wisness, Bill Maloney and Jake Davidson of JLL secured financing for the acquisition. Teddy Leatherman of JLL brokered the acquisition of the properties from seller Fountain Residential. Terms of the transaction were not released.

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Steady Amid Constraints: The Greater New Orleans Industrial Market

John Nelson — Mon, 15 Dec 2025 12:56:00 +0000

The Greater New Orleans industrial real estate market in 2025 is characterized by steady but cautious demand, where a persistent lack of new supply continues to limit product availability and constrain tenant options despite a user base that shows signs of wanting to grow. While local prospects for business are good, tenants seem to be keeping a wary eye on national economic trends. Interest rates have increased borrowing costs, prompting tenants to delay expansions and relocations as they navigate tighter budgets. Decision making is further slowed by uncertainty surrounding potential tariffs and their possible effects on material costs that could ripple through supply chains. High insurance premiums in a region affected by hurricanes force operators to reallocate funds from growth initiatives to coverage. Construction costs remain elevated; combined with a scarcity of viable development sites, speculative builds are extremely rare, which keeps inventory tight. These headwinds, some of which should sound familiar in other markets around the country, have slowed deal velocity, though there are projects in the works that can build momentum in South Louisiana. The $1.8 billion Louisiana International Terminal (LIT) in St. Bernard Parish, a public-private partnership with Ports America and Terminal Investment Ltd., begins construction in…

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C1 Development, GMH Receive Approval for 1,000-Bed Student Housing Development Near Louisiana State University

John Nelson — Tue, 09 Dec 2025 14:51:10 +0000

BATON ROUGE, LA. — A joint venture between C1 Development and GMH Communities has received approval for a student housing development at 6800 Burbank Drive near the Louisiana State University (LSU) campus in Baton Rouge. The development can span up to 1,000 beds and is set to offer cottage- and garden-style units, as well as townhomes, in two-, four- and five-bedroom configurations. Shared amenities will include a resort-style pool, modern fitness center, resident lounge, business center and study rooms. Construction is expected to begin next fall with completion scheduled for fall 2028.

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New Orleans CBD Continues to Transition from Office-Centric to 24/7 Destination

John Nelson — Mon, 08 Dec 2025 12:31:00 +0000

One cannot talk about, analyze, nor understand the New Orleans Central Business District (CBD) office market without a corresponding discussion of the entire CBD, not just the office building submarket. This is especially true when we look at the evolution of the New Orleans CBD since the late 1980s, and, more specifically to this article, since Hurricane Katrina. The New Orleans CBD office market is still the largest office submarket in this region. The submarket contains approximately 10.3 million rentable square feet. The balance of our submarkets (East Metairie, West Metairie, Kenner, Elmwood, West Bank, New Orleans East and the Northshore) contain a total of 8.6 million rentable square feet. More importantly, the CBD remains home for most of New Orleans’ “corporate” tenants, virtually all the region’s major law firms and financial institutions. That is the good news. However, the CBD has been transformed over the past 30+ years — and especially for the past two decades after Hurricane Katrina — from a traditional office-centric CBD to a mixed-use downtown area. The supply of office space in the CBD has shrunk from 70 buildings and 16.5 million rentable square feet in 1991, to 50 buildings and 13.8 million rentable square…

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Saronic to Invest $300M to Expand Shipyard in Franklin, Louisiana

John Nelson — Thu, 04 Dec 2025 15:33:14 +0000

FRANKLIN, LA. — Saronic Technologies, an Austin-based manufacturer for the defense and space industries, has announced plans to invest $300 million to expand its existing shipyard in Franklin, a city in southern Louisiana’s St. Mary Parish. The shipyard first became operational in April. The new investment will allow Saronic to meet client demand for its fleet of autonomous ships, or Autonomous Surface Vessels (ASVs). The company broke ground last month on the expansion, which will add 300,000 square feet of manufacturing space to its site near the Atchafalaya River, which feeds into the Gulf of Mexico. The project will comprise three new slips, expand its existing warehouse and establish a production line for assembly of its ASVs, namely Marauder, the company’s 180-foot autonomous ship. Saronic worked with Louisiana Economic Development, St. Mary Parish and other government offices on the expansion, which will add 1,500 skilled jobs to the Gulf Coast region. Private partners on the design-build team include JacobsWyper Architects, P2S, KPFF, JE Dunn and Alberici. The project is slated for completion by the end of 2026, with expanded operations coming on-line in early 2027. Saronic is also planning its next-generation Port Alpha shipyard, details of which were not released.

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