LAFAYETTE, LA—GlobeSt has learned that Holliday Fenoglio Fowler, L.P. (HFF) has closed the $24 million sale of Acadiana Square, a 244,768-square-foot retail power center with multiple national anchors in Lafayette.

HFF marketed the property on behalf of the seller, Kimco Realty Corp. A partnership between DRA Advisors and RCG Ventures LLC purchased the asset free and clear of existing debt.

Situated on 20.53 acres at 5700 Johnston Street, Acadiana Square is positioned at the "main and main" signalized intersection of Johnston Street (U.S. Highway 167) and Ambassador Caffery Parkway, which has combined traffic counts of more than 89,000 vehicles per day. The center is located across the street from Acadiana Mall, the dominant regional mall in Lafayette, a southern Louisiana city. The 91%-leased Acadiana Square is home to T.J. Maxx, PetSmart, Office Depot, Stein Mart, Party City, Shoe Carnival and Home Furniture Company with shadow anchors Michaels, Toys "R" Us, Babies "R" Us, Hobby Lobby and Mardel Christian & Education.