Sarpy Development acquires New Orleans shopping center

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.

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