MONROE, LA-Faris Lee Investments, a retail-specialized investment advisory firm, has completed the sale of Pecanland Commons, a fully leased Target-anchored regional shopping center. The center includes Ross Dress for Less, Bed, Bath & Beyond, Petco, and other notable tenants. Target was not a part of the sale, and the terms were not disclosed.
Built in 2003, Pecanland is situated on 8.6 acres and is located near the on/off ramp to Interstate 20, providing customers with easy access to the center. It is also near the Pecanland Mall, which is the largest mall in North Louisiana with more than 100 department and specialty stores.
Richard Chichester, Matthew Mousavi and Thomas Chichester of Faris Lee Investments, along with co-broker, Beezie Landry of Stirling Property Group, represented the seller, a large TIC. The buyer was TKG, a privately owned real estate company, based in Missouri, and was self-represented.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
