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Faris Lee, SRSA Broker $31.4M Sale of Single-Tenant New Orleans Store Net Leased to Whole Foods

The single-tenant net-lease Whole Foods Market located at 5600 Magazine St. in New Orleans was originally a street car barn constructed in 1893.

NEW ORLEANS — Faris Lee Investments and SRSA Commercial Real Estate have brokered the $31.4 million sale of a single-tenant net-lease Whole Foods Market located at 5600 Magazine St. in New Orleans. The store, which is one of two Whole Foods in the city, is situated near Tulane University and was originally a street car barn constructed in 1893. Faris Lee’s Scott DeYoung and Jeff Conover, along with SRSA’s Steve Reisig, Chris Robertson and Kirsten Early, represented the undisclosed seller in the transaction. Jason Maier with Stan Johnson Co. represented the buyer, an unnamed East Coast investor that purchased the store in a 1031 exchange. Whole Foods recently executed a 15-year lease extension at the property, according to Faris Lee.

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