News release

High-performing regional retail center in Baton Rouge sells

JLL Capital Markets closed the sale of Siegen Plaza, which is one of the top 3% most-visited shopping centers in the nation

February 28, 2022

Kimberly Steele

Capital Markets, Agency Leasing and Valuation Advisory PR
+1 713 852 3420

DALLAS, Feb. 28, 2022 – JLL Capital Markets announced today that it has closed the sale of Siegen Plaza, a 156,441-square-foot, high-performing regional power center in Baton Rouge, Louisiana.

JLL marketed the property on behalf of the seller, TriGate Capital LLC. Fidelis acquired the asset.

With an estimated five million visits annually, Placer.ai statistics positions Siegen Plaza in the top three percent of shopping centers in the nation. The 94-percent-leased retail property is home to the No. 1 HomeGoods and the No. 2 Ross Dress for Less in Louisiana, along with the top Target in Baton Rouge as a shadow anchor. A complementary lineup of Petco, Five Below, Carter’s, Gamestop, Whataburger, IHOP, Olive Garden, Chick-fil-A, Jason’s Deli, GNC and more add to the center’s regional draw.

Siegen Plaza is housed on 22.88 acres at 6700-6800 Siegen Lane in a highly visible and accessible location at the northeast intersection of Interstate 10 and Siegen Lane. The property is in Baton Rouge’s most dominant retail corridor and is surrounded by three of Louisiana’s highest income zip codes serving an extended trade area that includes 165,613 households with an average annual income of $86,829 within a 10-mile radius. Additionally, the center is near major demand drivers, including Louisiana State University, Mall of Louisiana and The Neuromedical Center.

The JLL Capital Markets team representing the seller was led by Senior Managing Directors Ryan Shore, Chris Gerard and Andrew Levy and Analysts Erin Lazarus and Jack Copher.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 98,000 as of December 31, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.


About TriGate Capital LLC

TriGate Capital, LLC (TriGate) is a leading real estate investment manager focused on the recapitalization and repositioning of real estate assets and companies.  TriGate is based in Dallas, TX and has current assets of management of nearly $2.0 billion through multiple types of transaction structures.  The Company’s professionals have significant expertise in real estate operations, debt restructuring, and asset and company recapitalization.

TriGate manages four fully discretionary real estate funds, TriGate Property Partners, LP (Fully Realized), TriGate Property Partners II, LP (Fund II), TriGate Property Partners III, L.P. (Fund III), and TriGate Property Partners IV, LP (Fund IV) which are the vehicles through which TriGate conducts its investment strategy. Fund II and Fund III are fully invested, and Fund IV is presently in its investment period.

About Fidelis 

Fidelis is an owner, operator and developer of retail, healthcare and residential commercial real estate projects. Fidelis has approximately 16 million square feet of property located in six states. Fidelis is headquartered in Houston with regional offices in Dallas, Texas, and Santa Fe, New Mexico. Fidelis’ mission is to maximize the value of the properties they serve for their tenants, customers, partners and communities. To learn more about Fidelis, please see their website at frpltd.com.