MANDEVILLE — SRS Real Estate Partners announced today it has completed the $8.09 million sale of Mandeville Marketplace, a 62,324-square-foot retail center located at 619 N. Causeway Boulevard in Mandeville, LA. Situated on six acres, the property is fully occupied by five tenants with anchor tenants including Altitude Trampoline Park and Crunch Fitness.
SRS Capital Markets Vice Presidents Sabrina Sapienza and Chad Lieber represented the seller, a Louisiana-based owner. The buyer was a Louisiana-based private investor who was in a 1031exchange and was represented by Ben Stalter with Maestri & Murrell.
“This deal presented multiple challenges during the escrow period including several extensions driven by a challenging debt environment on the buyer’s down-leg property. During that time, we worked closely with Ben Stalter and his client to continue to make the transaction process as seamless as possible,” said Sapienza.
Leiber added, “The seller originally acquired the property following the departure of a previous tenant. By successfully securing two strong anchor tenants, they revitalized the center, bringing new energy and renewed momentum to the Mandeville area.”
Built in 1988, the property includes 200 parking spaces and is proximate to U.S Highway 190. It is within a dense retail corridor with other national retailers including HomeGoods, Ross Dress for Less, PetSmart, TJ Maxx and Target, among others.
This year, SRS Capital Markets has completed more than $1.6 billion in deal volume comprised of more than 400 transactions across the nation. SRS currently has in excess of 900 properties actively on the market with a market value surpassing $4.3 billion.
About SRS Real Estate Partners
Founded in 1986, SRS Real Estate Partners is celebrating 40 years of going the extra mile for its clients. A leader in consumer-driven real estate, SRS provides commercial real estate solutions across retail, industrial, and capital markets. Headquartered in Dallas with 30 offices nationwide, the firm measures its success by the achievement of its clients’ objectives, satisfaction, and trust. For more information, please visit srsre.com.