Louisiana

Matthews Brokers $7.3M Sale of Apartment Community in Baton Rouge

by John Nelson August 15, 2022

BATON ROUGE, LA. — Matthews Real Estate Investment Services has brokered the $7.3 million sale of Acadian Place Apartments, a 120-unit multifamily property located at 855 S. Flannery Road in Baton Rouge. John Solari of Matthews represented the undisclosed seller in the transaction. A private investor based in New York purchased the property. Acadian Place is situated within walking distance to Flannery Road Park, an elementary school, Shopper’s Value Food and multiple restaurants. According to Apartments.com, the gated property was built in 1973 and features a pool, laundry facilities, playground, clubhouse and onsite property management.

August 15, 2022

Acquisitions Louisiana Retail Southeast

Routh Group Purchases 560,343 SF Louisiana Boardwalk Shopping Center in Bossier City

by John Nelson August 8, 2022

BOSSIER CITY, LA. — Routh Group has purchased Louisiana Boardwalk, a 560,343-square-foot, open-air shopping center located at 540 Boardwalk Blvd. in Bossier City, a northern Louisiana city bordering Shreveport. Adam Howells, Ryan Shore, Zach Riebe, Matthew Barge and Cole Sutter of JLL represented the undisclosed seller that sold the value-add property for $30.5 million. Situated along I-20 and the Red River, Louisiana Boardwalk is within walking distance of two major casinos: Margaritaville Resort Casino and Horseshoe Bossier City Casino. The shopping center was 67 percent leased at the time of sale to tenants such as Bass Pro Shops, Regal Cinemas, Dollar Tree, Nike and Cumulus Media, among others. According to JLL, the property has about 185,000 square feet of retail and office space available for lease.

August 8, 2022

Development Louisiana Mixed-Use Restaurant Retail Southeast

Richards Family Begins Construction on Retail Center at Clearview City Center in Metairie, Louisiana

by John Nelson July 18, 2022

METAIRIE, LA. — The Richards family has begun construction of The Commons of Clearview City Center, a new 10,476-square-foot retail project in the New Orleans suburb of Metairie. The property will be situated within the 100-acre Clearview City Center, which is a redevelopment of the former Clearview Mall. Set to come on line in March 2023, The Commons will house a 4,000-square-foot restaurant occupied by brunch eatery Ruby Slipper, as well as other concepts that have not yet been announced. The project includes the demolition of the existing structure at 4236 Veterans Blvd. In addition to The Commons, projects underway at Clearview City Center include Target’s renovation of its 160,000-square-foot store; Ochsner Health’s new Super Clinic set to open in October; and The Metro at Clearview, a five-story apartment community set for completion in October 2023. Other uses at Clearview City Center include a new branch of Regions Bank, Bed Bath & Beyond and Walk On’s Sports Bistreaux, among other stores and restaurants. Kirsten Early of SRSA Commercial Real Estate is handling the leasing assignment on behalf of the Richards family, which has owned the site since 1968.

July 18, 2022

Acquisitions Louisiana Retail Southeast

Howard Hughes Sells Outlet Collection at Riverwalk in New Orleans for $34M

by John Nelson June 20, 2022

NEW ORLEANS — The Howard Hughes Corp. has sold the Outlet Collection at Riverwalk, an outlet mall near the Port of New Orleans. An entity doing business as Rockstep Riverwalk LLC purchased the property for $34 million. Outlet Collection at Riverwalk spans 264,000 square feet of open-air retail space and houses retailers such as Calvin Klein, Carter’s, Crocs, Gap Facory, Kate Spade, Levi’s, Nordstrom Rack, Polo Ralph Lauren, Samsonite, Tommy Bahama Outlet and Under Armour. Food-and-beverage tenants include Auntie Anne’s, Café Du Monde, Fat Tuesday, Green Leaf’s, Häagen-Dazs, Mandarin Express, Raising Cane’s, Smoothie King and Villa Italian Kitchen. Tom Salanty of NAI Robert Lynn represented Howard Hughes Corp., a publicly traded real estate owner and developer based in Houston, in the transaction.

June 20, 2022

Acquisitions Louisiana Retail Southeast

SRS Negotiates Sale of 114,638 SF Village at Northshore Shopping Center in Metro New Orleans

by John Nelson June 16, 2022

SLIDELL, LA. — SRS Real Estate Partners’ Investment Properties Group has arranged the sale of Village at Northshore, a 114,638-square-foot shopping center in Slidell, about 40 miles north of downtown New Orleans. Woodmont Acquisitions LLC purchased the asset from an affiliate of Atlanta-based RCG Ventures for $12.4 million. Kyle Stonis and Pierce Mayson of SRS represented the seller in the transaction. The buyer was self-represented. Spanning nearly 13 acres, Village at Northshore was built in 1988 and renovated in 2020. The majority of the property’s tenants are national retailers, including Marshalls, JoAnn, Dollar Tree, Boot Barn and Ollie’s Bargain Outlet.

June 16, 2022

Acquisitions Louisiana Retail Southeast

JRW Realty Brokers $84M Sale of Six Stores in Louisiana Net Leased to Walmart

by John Nelson May 27, 2022

PASADENA, CALIF. — JRW Realty, a Pasadena-based commercial real estate brokerage firm, has arranged the sale of six single-tenant retail stores in Louisiana net-leased to Walmart Neighborhood Market. Jennifer Rodriguez Ventura of JRW Realty represented the buyer, an unnamed institutional investor that purchased the portfolio for $84 million. Alex Sharrin of JLL represented the undisclosed seller. The six stores are located in the southern or coastal Louisiana towns of Meraux, Houma, Prairieville, New Iberia, Opelousas and Thibodaux. All purchases have single-tenant net leases in place, with individual prices ranging from $11.8 million to just under $16.5 million. The stores average approximately 43,000 square feet and the total square footage of the six stores is 257,427.

May 27, 2022

Acquisitions Louisiana Retail Southeast

Woodmont, Criterion Fund Acquire 144,638 SF Shopping Center in Slidell, Louisiana

by John Nelson May 20, 2022

SLIDELL, LA. — A partnership between The Woodmont Co. and The Criterion Fund has acquired Village at Northshore, a 144,638-square-foot shopping center located at 105-115 Northshore Blvd. in Slidell. The sales price was not disclosed. Situated adjacent to I-12, the property was developed in 1988 and renovated in 2020. The retail center’s tenant roster includes Marshalls, JoAnn’s, Ollie’s Bargain Outlet, Boot Barn and Dollar Tree. Shadow anchors include Walmart Supercenter, Sam’s Club, The Home Depot and Aldi. SRS Real Estate Partners represented the seller, Atlanta-based RCG Ventures, in the transaction. Woodmont was self-represented. Andy Thelen of Woodmont worked with Louisiana National Bank to secure a loan for the acquisition. David Adams and Jake McCoy will oversee leasing at Village at Northshore for Woodmont on an internal basis.

May 20, 2022

Acquisitions Louisiana Multifamily Southeast

Passco Acquires Two Louisiana Apartment Communities Totaling 602 Units

by John Nelson May 9, 2022

NEW ORLEANS AND GONZALES, LA. — California-based Passco Cos. has purchased two apartment communities in Louisiana totaling 602 units in two separate transactions. The properties include the 330-unit Canal 1535 in downtown New Orleans and the 272-unit Sawgrass Point in the Baton Rouge submarket of Gonzales. Caleb Marten of KeyBank Real Estate Capital arranged acquisition financing for both transactions. Mike Kemether of Cushman & Wakefield and Larry Schedler, Cheryl Short and Christian Schedler of Larry G. Schedler & Associates Inc. were the brokers in the Canal 1535 transaction. Chad Rigby and Saban Sellers of Stirling Investment Advisors and Telly Fathaly of Walker & Dunlop were the brokers in the Sawgrass Point deal. The sellers and the sales prices were not disclosed. The acquisitions bring Passco’s Louisiana portfolio to nearly 1,700 units.

May 9, 2022

Acquisitions Hospitality Louisiana Southeast

HREC Arranges $16.9M Sale of Whitney Hotel in New Orleans

by Julia Sanders March 18, 2022

NEW ORLEANS — HREC Investment Advisors has arranged the sale of The Whitney Hotel, a historic 93-room hotel in New Orleans. Cleveland-based GBX Group LLC acquired the property for $16.9 million. Len Wormser, Ketan Patel, Barry Swanson and Michael Salloway of HREC represented the seller, The MCC Real Estate Group, in the transaction. Built in 1870, The Whitney was renovated about 24 years ago, and features 24 suites, meeting space, parking and a 7,000-square-foot lobby. The property is situated close to the 1.2 million-square-foot New Orleans Ernest N. Morial Convention Center, the French Quarter and Superdome.

March 18, 2022

Acquisitions Louisiana Multifamily Southeast

Kushner Realty Purchases Two Multifamily Properties in Lafayette, Louisiana for $93.5M

by Julia Sanders March 15, 2022

LAFAYETTE, LA. — New York-based Kushner Realty Acquisition LLC has purchased two multifamily properties in Lafayette for a combined $93.5 million. New Orleans-based Key Real Estate sold the communities, Robley Place and Ansley Walk, for $52.5 million and $41 million, respectively. Albert Elmore and Brian Savage of Colliers represented both the buyer and the seller in the transaction. The adjacent properties both offer one-, two- and three-bedroom floorplans. Built in 2016, Robley Place features 248 units with stainless steel appliances, wood-style flooring and walk-in closets. Community amenities include a courtyard, grill, fitness center, pet washing station, spa, pool, playground and a business center. Built in 2008, Ansley Walk has 242 units with walk-in closets, balconies and patios and master bathrooms with double vanities. Community amenities include laundry facilities, pet play area, car wash area, pet washing station, package service and Wi-Fi at the pool and clubhouse.

March 15, 2022

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