Canal Street Beat | New Orleans Real Estate News

NOLA Office Market Continues Upward Trend

January 8, 2014 • Central Business District, Jefferson Parish, Office • 5061

The commercial office market is heating up, following the same increases we are seeing in retail, hotel, and multifamily across the metro area. The Metairie and Central Business District office markets will continue strengthen in 2014 as occupancy rates and average rents increase. One broker, Robert Hand, suggested that there has been a 54 percent [&hellip
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Check Out This List of New Developments On The Drawing Board

January 7, 2014 • Development • 9573

With national retailers moving in, the hospitality market at an all time high, and new developments moving forward, the New Orleans real estate market is hot right now. New projects are popping up every day and old developments, tabled since the recession, are now springing back to life. Here is a list of some proposed [&hellip
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Kenner Senior Living Center Acquired For $26.8M

January 7, 2014 • Acquisitions, Healthcare, Kenner • 3733

National Health Investors Inc. (NHI), a Tennessee health care real estate investment trust, purchased the Nouveau Marc senior living center earlier this month for $26.8 million. The sale of the 113-unit independent senior living facility in Kenner was part of NHI’s $491 million acquisition of 25 facilities in 12 states from Oregon-based Holiday Retirement. According [&hellip
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Check Out the Final Design For South Market’s New Garage

January 6, 2014 • Architecture & Design, Central Business District, Development • 7654

The design for the anchor garage for the residents and guests of the South Market District Development has been finalized – and it looks great. It’s a new, refreshing design for New Orleans parking structures. The South Market District is a $200 million mixed-use development off the Loyola Avenue streetcar line. It will eventually encompass [&hellip
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New CVS Pharmacy Planned for Corner at 1600 Elysian Fields Ave.

January 6, 2014 • Commercial, Construction, Development, Healthcare • 9537

CVS has plans to build a new drug store at the corner of Elysian Fields and Claiborne. The company filed construction permits with the City of New Orleans last week on January 3. Plans call for a 13, 225 square foot CVS drug store. According to the city’s assessor records, the owner of the property [&hellip
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Starwood Capital Paid Over $116 Million for This New Orleans Hotel

January 6, 2014 • Uncategorized • 11982

Starwood Capital Group has closed on the Astor Crowne Plaza hotel in New Orleans for $116.6 million, or about $168,254/room. The Greenwich, Conn., investment manager bought the 693-room property from LNR Partners, special servicer for its $73.4 million CMBS loan, which was securitized through GS Mortgage Securities, 2005-GG4. The sale is a rarity in that [&hellip
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Lowe Enterprises Investors Just Bought This Hotel for Over $10 Million

January 6, 2014 • Central Business District, Hotel & Hospitality, Investment • 6036

Lowe Enterprises Investors (LEI) has purchased the Royal St. Charles Hotel on behalf of an investment client for $10.1 million. Records from the New Orleans Notarial Archives show the hotel sold Dec. 31 for $10.1 million, including the assumption of an $8.7 million loan from U.S. Bank. The seller was Clearview Hotel Capital, an investment [&hellip
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Spizer Honored With National Real Estate Award

January 4, 2014 • Awards & Recognition • 3986

Barry Spizer, the founder of SRSA Commercial Real Estate, has been awarded with National Association of Realtors National Award for 2013. Each year, the National Association of Realtors honors accomplished Realtors in commercial real estate by recognizing their achievements. Barry was the sole recipient of the award for the State of Louisiana. Spizer has received [&hellip
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On The Market: 142 Key Baymont Inn & Suites

January 2, 2014 • Hotel & Hospitality, Investment, New Orleans East • 4996

The 142 key Baymont Inn & Suites in New Orleans East hit the market last week with an asking price of $3,250,000. The four-story hotel was built in 1996 as a limited-service hotel and was converted into the Baymont Inn & Suites in the second quarter of 2013. As of November 2013, the listing reports [&hellip
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Year in Review: New Orleans Retail

December 30, 2013 • News, Retail • 7911

The New Orleans’ commercial real estate retail market saw growth in 2013 like it hadn’t seen in years with many new retailers coming to town. Here are the highlights: The $70 million redevelopment of the Riverwalk Marketplace downtown into an upscale outlet mall. The renovation will add 50,000 square feet to the building. New tenants [&hellip
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