New Rouses Market-Anchored Retail Development Coming to Lake Charles, Louisiana
Anticipated construction completion in the spring of 2020.
Stirling Properties commercial real estate company is pleased to announce that a new Rouses Market-anchored retail development is coming to Lake Charles, Louisiana. Developed by the Eisenberg Company, the roughly 90,000-square-foot development will be located on 10.25 acres on Nelson Road at Ham Reid Road in South Lake Charles. Eisenberg Company recently completed construction of its first Rouses Market-anchored shopping center, Arlington Marketplace, in Baton Rouge on the corner of Lee and Burbank.
Anchor-tenant Rouses Market will occupy approximately 44,000 square feet of retail space. Construction of the state-of-the-art, ground-up grocery store commenced last week, and it is expected to open in the fall of 2020. This marks the 3rd Rouses Market location for the Lake Charles area.
Rendering courtesy of Rouses Facebook
Stirling Properties’ commercial advisors are serving as the listing agents for the retail project. Justin Langlois, CCIM, Ben Graham, CCIM and Seth Citron are working diligently to fill the remainder of the property and bring new tenants to the market. Additional pad sites and shop space is available for sale, lease or build to suit.
“This exciting new Rouses Market-anchored retail development is centrally located within the fastest growing area in the region. Some of our ideal tenants for the space include quick-serve establishments, soft goods and service providers, and restaurant options,” said Citron. “Lake Charles is in the midst of an economic boom resulting in new job growth and subsequently population growth. We expect to see new companies and major retailers entering and expanding in this market—and we look forward to welcoming them very soon.”
Stirling Properties is located at 1400 Ryan Street, Suite B in Lake Charles, La. For sales and leasing information, contact Justin Langlois, CCIM at (225) 329-0287 / jlanglois@stirlingprop.com, Ben Graham, CCIM at (225) 329-0268 / bgraham@stirlingprop.com or Seth Citron at (337) 572-0273 / scitron@stirlingprop.com.
Stirling Properties’ Beezie Landry Closes on Sale of Five Investment Properties in September
Stirling Properties’ Beezie Landry, Senior Sales and Leasing Executive, closed on the sale of five investment properties in September totaling over $38 million. In each of these transactions, Mr. Landry represented the Seller.
Two single tenant Rouses Markets
2851 Belle Chasse Highway, Gretna, LA– 57,644 SF
Buyer: Rouses Market
Seller: Private New York based investor
50 Park Place, Covington, LA – 57,206 SF
Buyer: Rouse / Kingsmill, L.L.C.
Seller: Private New York based investor
Westwood Village
Southwest Corner of West Congress Street and Bertrand Drive, Lafayette, LA– 138,034 SF
Co-Listed with Charles Cornay, Senior Sales Executive for Stirling Properties
Multi-tenant grocery anchored shopping center
Anchor Tenants: Rouses Market, CVS, and Stage
Buyer: Private Lafayette based investor completing a 1031 exchange
Seller: Weingarten Realty Investors
Single Tenant Walgreens
2001 Carol Sue Avenue, Gretna, LA– 17,238 SF
Developed and sold by Stirling Properties
Brand new 25 year deal
Sold at a cap rate of 5.55%
Executed contract to closing was only 26 days
Buyer: Realty Income Corporation
Seller: Private Investor Group led by Stirling Properties
Winn Dixie
804 West Oak Street, Amite, LA– 49,771 SF
Winn Dixie recently renewed lease for 10 years
Executed contract to closing was only 22 days
Buyer: American Realty Capital Properties
Seller: Southland-Amite WD (a Chicago based investor)
“Year to date Beezie has closed on approximately $60 million in Investment Sales representing both Buyers and Sellers,” stated Chris Abadie, Vice President and Manager of Commercial Brokerage at Stirling Properties. “The clients he has represented have been publicly traded REITs as well as private investor groups on deals that include single tenant, ground leases and multi-tenant grocery anchored shopping centers.”
Investment sales is a linchpin to our brokerage division. Whether it’s achieving the goals of a buyer or seller, Stirling can meet your needs. Our professionals are versed in asset dispositions whether the property is income-producing, distressed, vacant or REO. From institutional investors to private investors, we help buyers find and secure assets that have opportunities for added value and improved performance, or assets with stabilized risk-adjusted returns.
For more information regarding Investment Sales, contact Beezie Landry blandry@stirlingprop.com or 985-898-2022.
