Jamie Bouterie, broker with Huntington tells GlobeSt.com that buyer is Rousse Land Development of New Orleans. The acreage is located along North Canal Boulevard just north of LA 308. Dirt will fly Sept. 1 and deliver in February 2002. The center is already 65% pre-leased. Bouterie already has lined up Alabama sporting goods retailer Hibbetts Sports, Radio Shack, Subway and Advance Cash America.
Last month, Huntington broke ground another Louisiana project at Lake Charles. The 119,696-sf retail center will be anchored by 64,842-sf Albertsons. The project includes one 41,000-sf pad site and 13,854 sf of inline retail.
Huntington is working Albertsons developer Elliott Medgal & Associates of Beverly Hills, CA on the Lake Charles project. In addition, a 3.4-acre tract on the southeast corner has been sold to Realm Realty, where plans are afoot to build a Walgreens.
Huntington has a history with Megdal in Houston and the surrounding areas. The duo has acquired land in Conroe, Baytown, Pearland, Friendswood, New Braunsfel and Sulphur for Albertsons' anchored-centers. Bouterie says Megdal develops the inline retail and then sells the projects upon completion and lease-up.
The Sulphur, TX center, a 15,500-sf property was completed in 2000 and is 100% occupied. Now, it's up for sale, says Bouterie.
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