January 16, 2019
Sean Patrick Closes Retail Center Sale in Kenner, La. for $5,650,000
New Orleans-area Center is 100% leased to Dunkin’ Donuts, AT&T and Aspen Dental
ATLANTA, January 16, 2019 – Ackerman Retail, a division of Ackerman & Co., announced today that it represented BGHA Kenner LLC in the sale of a retail center at 2240 Veterans Memorial Boulevard in Kenner, La., 12 miles west of downtown New Orleans, for $5,650,000 ($759 PSF) at a cap rate of 6.5%. The retail center – 100% leased to Dunkin’ Donuts, AT&T and Aspen Dental – was purchased by a private investor based in Baton Rouge, La.
Ackerman Retail Senior Vice President Sean Patrick and Monte Luffey with Southeast Commercial represented the seller. Matt Eaton and Peter Lombardo of Re/Max Commercial Brokers Inc. represented the buyer in the sale.
“We’re very pleased to close the sale of this retail center at the full asking price,” said Sean Patrick. “This well-located, newly built center presented an outstanding investment opportunity, offering the buyer strong income from three nationally recognized, credit-worthy tenants with long-term leases.”
The 7,440-square-foot retail center is located adjacent to New Orleans International Airport at the busy intersection of Veterans Memorial Boulevard and Williams Boulevard in a dense retail corridor that includes The Home Depot, Walmart, Best Buy, Academy Sports and Starbucks.
About Ackerman & Co.
Headquartered in Atlanta, Ackerman & Co. is a privately held, full-service commercial real estate firm focused on providing quality investment, brokerage, management and development services in the Southeast. The company, founded in 1967, retains an expert team of more than 100 real estate professionals. To date, Ackerman & Co. has developed and acquired more than 37 million square feet of office, medical, industrial, retail and mixed-use space, has nearly 8 million square feet under management and maintains an investment portfolio valued at $1 billion.
Ackerman Retail, a division of Ackerman & Co., offers a best-in-class services platform, delivering solid results for local and multi-market clients across the Southeast. To date, Ackerman Retail has completed more than 10 million square feet of transactions valued at $1.7 billion.
For more information, visit www.ackermanco.com