Real estate investment group Chalmette Management, LP has acquired”The Mall” shopping center in Chalmette located at 8700 West Judge Perez Dr for $13,000,000 according to our friends at Biz New Orleans.
The Mall has three separate buildings totaling roughly 135,000 rentable square feet and 673 parking spots. The property generates a net operating income of $1,223,800 according to the listing on Loopnet.
Tenants include Aaron’s, ACE Cash Express, Big Lots, CATO Fashions, Churchill Downs, GameStop, Hibbett Sporting Goods, IHOP, Payless ShoeSource, Save-A-Lot and T-Mobile.
The sell was Ray Peacock, who bought the property in 2007 for $1.5 million before renovating. The Stevens Realty Group, Inc. brokered the deal.