Sarpy Development acquires New Orleans shopping center
JLL Capital Markets completes sale of New Orleans Whole Foods Plaza, a two-tenant center in Metairie, LA
Atlanta, GA (Mar. 28, 2019) – JLL’s Capital Markets experts have completed the sale of New Orleans Whole Foods Plaza, a 58,283-square-foot community center located in the bustling New Orleans submarket of Metairie. Sarpy Development, a local developer, purchased the property.
Managing Director Margaret Caldwell and Vice President Margaret Jones led the team handling the sale on behalf of the seller, a Dallas-based family office.
“As the only Whole Foods in Metairie and the only Jared in the New Orleans MSA, this center enjoys an extended trade area serving a loyal customer base,” said Caldwell. “Amazon’s purchase of Whole Foods has made the store stronger and more formidable.”
Developed in 2004, New Orleans Whole Foods Plaza consists of two retail buildings on just over 4 acres. The center was 100% percent leased at the time of the sale, anchored by tenants Whole Foods and Jared the Galleria of Jewelry.
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 a sale, financing, repositioning, advisory, or recapitalization execution. In 2017 alone, the firm’s 2,400 Capital Markets specialists completed $170 billion in investment sale and debt and equity transactions globally.
For more news, please visit The Investor, an online and mobile app news source providing real-time commercial real estate news to asset buyers and sellers around the world.
For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: http://bit.ly/18P2tkv.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of over 91,000 as of March 31, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.