The long-dormant Jefferson Plaza Shopping Center is under contract to be purchased by The Feil Organization, City Business reported Friday.
The Feil Organization, led by developer Jeffrey Feil, is a real estate investor and developer in New York with significant holdings throughout the greater New Orleans area, including Lakeside Shopping Center, the Costco store land, the Lakeway Tower complex, and a plethora of other office and multi-family buildings around the city.
Real Estate Solutions Inc. is the property’s broker, which had listed the 350,000 square foot shopping center for sale at $6.5 million, or $43.47 per square foot.
The plot is zoned as C-2, a mixed-use general commercial development designation that also permits multi-family developments.
The roughly 350,000-square-foot property and accompanying strip mall has been vacant since 2008
An official with Feil said the company has no set plans for redevelopment just quite yet.
After Katrina, developer Jim St. Raymond planned a $350 million ultra modern, high rise condo building for the Jefferson Plaza Shopping Center. The development fizzled and St. Raymond eventually canceled the project.
Martin Wine Cellar Breaks Ground Next Post:
Franchisee Proposes Pizza Hut Restaurant for Carondelet Street Location