New Orleans-based Bruno, Inc. is continuing to expand its acquisitions and development throughout the country.
Company President Josh Bruno currently splits his time between New Orleans and Miami– with other members of the team in Los Angeles as well– and has major expansion plans outside both of his home base locations.
Bruno, Inc. has developments and retail/office/industrial holdings in Louisiana, Montana, Oregon, Nevada, Texas, Louisiana, Mississippi, Florida. The company has over 1,400 apartments in the metro New Orleans area alone, followed by another 2.3 million square feet of retail and office throughout the United States.
“Our current occupancy is average 95 percent in our multi family portfolio and 92 percent in our commercial sector,” Bruno to Canal Street Beat.
More recently, Bruno released that the company will be entering the commercial market in South Carolina with the acquisition of a Hooters restaurant in early June followed by a Rhode Island and Illinois.
Bruno says their normal rate of growth has been 25 to 30 percent, even during the economic downturn. “2015 is projected to be 70 percent which will be our largest year to date…. we see much larger development projects that have been in the works for years locally in Algiers and Mid-City and warehouse district as well as a number of other high profile acquisitions nationally in the retail/restaurant environment.”
The Bruno, Inc. team is focused on national expansion primarily with National credit tenants such as Taco Bell, Chick Filet, Walgreens, CVS, Verizon, Sprint, T-Mobile, Tilted Kilt, 7-11 etc with NNN leases.
Diversification is key, according to Bruno. “Markets go up and down this is well known in this industry, timing and execution is everything.”
The company has been planning to roll out this expansion for a few years now, Bruno continued.
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