Irvine, Calif. — Faris Lee Investments has arranged the sale of 10 Dairy Queen-occupied properties across Louisiana. The portfolio was sold to two separate buyers. Scott DeYoung, Jeff Conover and Hunter Steffien of Irvine, California-based Faris Lee represented the seller, an entity doing business as MP Holdings LLC, in the transaction. The 10 freestanding locations feature drive-thrus and are located in metro New Orleans, Baton Rouge, Lafayette and Houma.
Lafayette, La. — Aldi has opened a 22,000-square-foot store at 4518 Ambassador Caffery Parkway in Lafayette. The location is the company’s first in Louisiana. Aldi plans to open 20 new stores in 2022 across Alabama, Mississippi, Florida and Louisiana.
New Orleans — Trinity Real Estate Investment Services (Trinity REIS) has brokered the sale of a Family Dollar-occupied retail property in New Orleans. Trinity REIS represented the seller, Legion Capital, in the sale. The property spans 9,180 square feet at 7437 Westbank Expressway, roughly 10 miles from downtown New Orleans.
Lafayette, La. — GBT Realty Corp. has bought River Marketplace, a 168,000-square-foot shopping center located at 4313 Ambassador Caffery Parkway in Lafayette. Jim Hamilton, Ryan Shore, Ryan West, Brad Buchanan and Taylor Callaway of JLL represented the seller, RBL Real Estate, in the transaction. Developed in 2003, River Marketplace includes multi-tenant buildings and six freestanding outparcels. Shadow-anchored by Super Target, the center was 99 percent leased at the time of sale to tenants including Total Wine & More, Ross Dress for Less, Raising Cane’s and Chili’s Grill & Bar.
Slidell, La. — SRS’ Investment Properties Group has brokered the sale of two single-tenant properties net leased to Winn-Dixie in Slidell, roughly 31 miles outside New Orleans. H&R 2985 Gause LLC and H&R 3030 Pontchartrain LLC sold the properties for $10.9 million to NS Retail Holdings LLC. Kyle Stonis and Pierce Mayson of SRS’ Investment Properties Group, along with William Place of L + A Retail, represented the seller in the transaction. The buyer was self-represented. Located at 2985 Gause Blvd. and 3030 Pontchartrain Drive, the properties are the only …
Albuquerque, NM., Conyers, Ga., and Mandeville and Marrero, La. — Faris Lee Investments has arranged the $13.9 million sale of four properties ground leased to Chick-Fil-A. Jeff Conover and Scott DeYoung of Faris Lee Investments represented the sellers, local developers from both the Southeast and Southwest regions of the United States. Faris Lee also procured the 1031 exchange buyers, who were based out of the West Coast, Southwest and Northeast regions. The properties are occupied under an average 15-year lease term and are located in Albuquerque, New Mexico; Conyers, Georgia; …
Mandeville, La. — Target is set to open a 58,000-square-foot store at Premier Centre, a 273,000-square-foot shopping center in Mandeville. The store will occupy a combination of space formerly occupied by Stein Mart and an adjacent space currently occupied by Rack Room Shoes, which will be relocating to another storefront within the center. An additional 13,000 square feet will be built onto the back of the building to accommodate the new tenant. Whole Foods Market anchors Premier Centre, which is 97 percent leased to tenants including Bed Bath & Beyond, …
Franklin, La. — Marcus & Millichap has arranged the $4.9 million sale of a 14,820-square-foot retail property located at 2030 Main St. in Franklin. The property is net-leased to Walgreens. Brennan Clegg, Mark Ruble and Chris Lind of Marcus & Millichap represented the seller, a limited liability company, in the transaction. David Cutler, Joshua Johnson and Kirk Trammell of Marcus & Millichap represented the buyer, also a limited liability company. Chris Shaheen of Marcus & Millichap assisted in closing the transaction.
Baton Rouge, La. — Cooper Commercial Investment Group has brokered the sale of Bluebonnet Parc, a four-building mixed-use center in Baton Rouge. Dan Cooper of Cooper Commercial Investment Group represented the seller, a private investment group. A private buyer purchased the property for $17.2 million. Located at 5915 Bluebonnet Blvd., Bluebonnet Parc is located close to Interstate 10 and is about 9.8 miles from downtown Baton Rouge. Additionally, the property is about 7.7 miles from Louisiana State University. The 135,367-square-foot property is anchored by Best Buy, buybuy Baby and Havertys, …
Prairieville, La. — SRS Real Estate Partners has arranged the $2.6 million ground-lease sale of a McDonald’s-occupied, 4,268-square-foot retail property located at 15022 Airline Highway in Prairieville, about 22 miles south of Baton Rouge. Newly built, the property includes a drive-thru and is situated on 1.4 acres near Interstate 10. The McDonald’s is slated to open by late September. Matthew Mousavi, Patrick Luther and Sabrina Kortlandt of SRS represented the seller, a Baton Rouge-based private investor who has owned the land for more than 60 years. Jeff Li of Colliers …
