Louisiana

Old No. 77 Hotel & Chandlery New Orleans

Provenance Hotels Partners Buys Old No. 77 Hotel & Chandlery in New Orleans

by John Nelson June 6, 2016

NEW ORLEANS — Provenance Hotels Partners Fund I, an investment vehicle sponsored by Portland-based hotel operator Provenance Hotels, has purchased Old No. 77 Hotel & Chandlery in New Orleans for an undisclosed price. The 167-room boutique hotel is located at 535 Tchoupitoulas St. in New Orleans’ Warehouse Arts District. The hotel features Compère Lapin, a French and Italian restaurant helmed by chef Nina Compton. Provenance Hotels bought out the ownership stake in Old No. 77 from its partners — affiliates of New York-based GB Lodging and Dallas-based Woodbine Development Corp. The trio opened the hotel in August 2015.

June 6, 2016

Industrial Louisiana Southeast

Port Cameron in Louisiana to Add $1.5B Deep-Water Staging Port

by John Nelson May 31, 2016

CAMERON, LA. — Port Cameron LLC plans to develop a new deep-water staging port in Cameron, a town near Lake Charles in Louisiana’s Gulf Coast region. As the largest private energy services facility on the Gulf Coast, the new port complex will facilitate energy development in the Gulf of Mexico. Construction on the $1.5 billion project will commence in November, and Phase I of the project is slated for completion by the third quarter of 2017. Phase I will encompass 500 acres, with an additional 750 acres available for expansion in the future. In addition to the new port, the project includes constructing approximately 25,000 linear feet of all-weather roads and two new concrete bridges. The new port will be located on the Calcasieu Ship Channel, roughly 185 miles east of Houston and approximately 50 miles south of I-10. Mark Nicholas, John Talhelm, Richard Quarles and Joe Berwick of JLL Houston’s office are leading the leasing efforts for Port Cameron. According to an economic impact study by Louisiana-based economic consulting firm Loren Scott Associates, when fully leased, activity at the port will create approximately $2.8 billion in sales and about 10,000 jobs for the state of Louisiana.

May 31, 2016

Louisiana Retail Southeast

Stirling Properties Opens New Whole Foods Market in Louisiana

by John Nelson May 19, 2016

MANDEVILLE, LA. — Stirling Properties has opened a new Whole Foods Market at Premier Centre in Mandeville. Along with the recently opened Forever 21 Red, the 40,000-square-foot store is replacing a former Albertson’s grocery store. The 273,000-square-foot Premier Centre is fully leased to tenants including Stein Mart, Bed Bath & Beyond, T.J. Maxx, Barnes & Noble, Old Navy, Gap/Gap Kids, Rack Room Shoes, Banana Republic, American Eagle Outfitters, Hallmark, LOFT, Victoria’s Secret, Aéropostale, Buckle, Apricot Lane, H.W. Rosenblum, Earthsavers, Bath & Body Works, Motherhood Maternity, Chase Bank, Chili’s Grill & Bar, Romano’s Macaroni Grill, la Madeleine and Pinkberry. Tesla electric car charging stations are also available in the parking lot. Stirling Properties developed Phase I of Premier Centre in 1999 and Phase II in 2000 and currently holds the managing and leasing contract. The new Whole Foods store will employ approximately 100-120 team members.

May 19, 2016

Louisiana Retail Southeast

Stirling Properties Brokers Land Sale for New Walmart Supercenter in Louisiana

by John Nelson April 25, 2016

CARENCRO, LA. — Stirling Properties has brokered the sale of a 16.1-acre lot of land located at 3810 N.E. Evangeline Thruway in Carencro near the intersection of I-10 and I-49. The buyer, Wal-Mart Real Estate Business Trust, has begun to build a new 182,000-square-foot Walmart Supercenter at the site. The new store, which is set to open in early 2017, is expected to create 300 jobs. Seth Citron and Ryan Pecot of Stirling Properties brokered the land deal.

April 25, 2016

Louisiana Retail Southeast

Cypress Equities Buys 460,000 SF Shopping Center in Louisiana

by John Nelson April 14, 2016

COVINGTON, LA. — Dallas-based Cypress Equities has acquired Covington Nord du Lac shopping center, a 460,000-square-foot regional retail power center located in Covington, roughly 40 miles north of New Orleans. The center comprises 214,000 square feet of existing space, 83,000 square feet of partially built improvements and 162,000 square feet of planned development space. Tenants including Hobby Lobby, Academy Sports + Outdoors, Petco and Kohl’s anchor the center. Kyle Stonis, Scott Tiernan and Pierce Mayson of SRS Real Estate Partners represented Cypress Equities in the transaction.

April 14, 2016

Louisiana Restaurant Retail Southeast

Newk’s Eatery Opens 100th Restaurant in Louisiana

by John Nelson April 7, 2016

LAKE CHARLES, LA. — Fast-casual Newk’s Eatery opened its 100th restaurant in Lake Charles on April 4. The restaurant is the first Newk’s franchise location for Southeast Restaurant Group, a New Orleans-based veteran operator of franchise and independent restaurants, and the third restaurant nationwide to feature Newk’s “Generation 2” restaurant design. The Jackson, Miss.-based brand’s newest restaurant marks the halfway point in its aggressive growth plan to open 200 units by 2019. The restaurant is one of 15 units planned by Southeast Restaurant Group for the southwest Louisiana and southeast Texas region over the next seven years. The group’s development agreement complements the brand’s ongoing expansion efforts along the Gulf Coast and is Newk’s largest build-out commitment to date.

April 7, 2016

Louisiana Multifamily Southeast

Doster Construction Breaks Ground on Apartment Community in New Orleans MSA

by John Nelson April 1, 2016

COVINGTON, LA. — Doster Construction has broken ground on Springs at River Chase, an apartment community located in Covington, situated across Lake Pontchartrain from New Orleans. The property will feature floor plans ranging from studio to three-bedroom, and community amenities will include a clubhouse, resort-style pool, 24-hour fitness center, dog park, attached and detached garages, car care center and a pet spa. The project team includes developer Continental Properties and architect of record Phillips Partnership. Doster has completed more than 1,000 units of multifamily housing in the last year, including Springs at Fremaux in Slidell, La.

April 1, 2016

Loans Louisiana Multifamily Southeast

Dougherty Mortgage Closes $29M HUD Loan for Apartment Community in New Orleans MSA

by John Nelson March 31, 2016

GRETNA, LA. — Dougherty Mortgage LLC has closed a $29 million HUD 223(f) loan for the refinancing of Calypso Bay Apartments, a 280-unit multifamily community in Gretna, situated across the Mississippi River from New Orleans. The property offers one-, two- and three-bedroom units and features a swimming pool, fitness center, billiards room and a business center. Dougherty’s Dallas office arranged the 40-year HUD 223(f) loan on behalf of the borrower, Calypso Bay LLC.

March 31, 2016

Louisiana Retail Southeast

Stirling Properties, CBL Open Ambassador Town Center In Louisiana

by John Nelson March 25, 2016

LAFAYETTE, LA. — Stirling Properties and CBL & Associates Properties Inc. have opened Ambassador Town Center in Lafayette. The co-developers hosted a formal ribbon cutting ceremony attended by Lafayette City-Parish president Joel Robideaux, former City-Parish president Joey Durel, LEDA president and CEO Gregg Gothreaux and other Lafayette area community leaders. Ambassador Town Center is a roughly 60-acre retail project anchored by Costco Wholesale and Dick’s Sporting Goods/Field & Stream. Situated at Ambassador Caffery Parkway and Kaliste Saloom Road, the 430,000-square-foot property is 97 percent leased to tenants such as Avalon Salon & Spa, BJ’s Restaurant & Brewhouse, Blaze Pizza, Chuy’s Mexican Restaurant, Costco Gasoline, Dickey’s Barbecue Pit, Five Below, Freddy’s Frozen Custard & Steakburgers, Marshalls/HomeGoods, Nordstrom Rack, Off Broadway Shoes, Panda Express, Panera Bread, PetSmart, Phone Zone, Professor Bob Beans, Red Robin, Subway, Tao Japanese Cuisine, World of Beer and Verizon Wireless. Ambassador Town Center is expected to generate roughly 1,700 permanent jobs and nearly $9 million annually in estimated sales tax collection.

March 25, 2016

Louisiana Retail Southeast

SRSA Negotiates 34,000 SF Retail Lease for Sportsman’s Warehouse in Metro New Orleans

by John Nelson March 16, 2016

SLIDELL, LA. — SRSA Commercial Real Estate has arranged a 34,000-square-foot lease for Sportsman’s Warehouse in Slidell, making it the first Louisiana location for the outdoor retailer. The store will join the tenant roster at the Shops at Rouses, a shopping center located on Kensington Boulevard that’s home to existing retailers such as Rouses and Petco. Kirsten Early and Collin Homes of SRSA Commercial represented Sportsman’s Warehouse, which currently has 66 locations open and operating. Larry Haik of Dale Stram & Associates LLC represented the landlord.

March 16, 2016

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