Metairie, La. — Arhaus will open a 14,000-square-foot showroom at the Feil Organization’s Lakeside Shopping Center, a 1.2 million-square-foot property located roughly eight miles outside New Orleans in Metairie. Scheduled to open later this year, the showroom will be located next to Dillard’s and feature two entrances, one interior and one exterior.
Bossier City, La. — The Cordish Cos. has announced an agreement to acquire Diamond Jacks Casino & Hotel, located in Bossier City in northwest Louisiana. Subject to approval by the Louisiana Gaming Control Board, Cordish plans to redevelop the property into a casino resort and entertainment destination. Closed since March 2020, the development will be the first in the state of Louisiana under Cordish’s Live! brand, which offers dining, entertainment, casino, hotel and sports-anchored entertainment spaces. The seller and acquisition price were not disclosed. Cordish was the development partner for …
New York City — A&G Real Estate Partners will auction eight Party City leases in its capacity as real estate advisor to the retailer. These leases — which include locations in Georgia, Iowa, Illinois, Louisiana, Michigan, New York, Texas and West Virginia — come in addition to 12 Party City leases announced for auction by A&G in late February. Ranging in size from 7,500 to 28,000 square feet, 18 total leases remain open. This move is part of Party City Holdco Inc. (PCHI)’s financial restructuring, which is expected to be …
Lake Charles, La. — Schelin Uldricks & Co. has arranged $13.9 million in financing for the redevelopment of University Plaza, a grocery-anchored shopping center located at the corner of Ryan Street and Sale Road in the southeast Louisiana city of Lake Charles. Financing will enable the renovation of portions of the property that experienced hurricane damage in 2020. When finished, the retail center will span 203,965 square feet. An undisclosed regional bank provided the loan. The property is currently leased to a mix of tenants that include a fitness center, …
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 …
Lafayette, La. — JLL has brokered the sale of Acadiana Square, a 244,768-square-foot shopping center located at 5700 Johnston St. in Lafayette. Jim Hamilton, Ryan West and Brad Buchanan of JLL represented the sellers, DRA Advisors and RCG Ventures, in the transaction. Property Commerce Dividend Fund acquired the center for an undisclosed price. Acadiana Square was 95 percent leased at the time of sale to tenants such as Burlington, Home Furniture Co. of Lafayette, T.J. Maxx, PetSmart, Office Depot and Party City. The previous ownership executed new leases or renewals totaling …
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 …
Baton Rouge, La. and McDonough, Ga. — Faris Lee Investments has brokered the sale of two convenience store properties located in Louisiana and Georgia. Jeff Conover, Scott DeYoung and Hunter Steffien of Faris Lee represented the undisclosed seller in both transactions, which totaled $8.2 million. Dispositions include a single-tenant property occupied by Murphy Oil under a 20-year, absolute, triple-net ground lease at the intersection of Airline Highway and Old Hammond Highway in Baton Rouge, Louisiana; and a single-tenant property occupied by QuikTrip under a 15-year, absolute, triple-net lease in McDonough, …
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 …
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 …
