Construction continues on Commerce Centre 42 Retail, the 34,000-square-foot shopping center going up on Airline Highway in Prairieville, between Commerce Centre Drive and Market Place Drive.
The most recent lease agreement in the center was made by the owners of the La Caretta Mexican restaurants, who will open a Tex-Mex concept on the end cap space with 3,000 square feet and an outside patio. Mike Stinson of Saurage Rotenberg Commercial Real Estate represented the La Caretta owners.
The shopping center project is part of a much larger real estate investment that includes Bouillon Crossing, a residential subdivision, and the Commerce Centre Office Park. A group of investors, spearheaded by Raymond Heck, purchased the property a few years ago. Of the 34,000 square feet available in the center, only about 4,700 square feet—or about 14%—remains unleased.
Other occupants of the center include Geisha, a sushi and hibachi grill that will occupy about 4,500 square feet, and Fit Blends, which will occupy about 1,500 square feet. Rental rates are being quoted in the $18-per-square-foot range.
Scot Guidry with Mike Falgoust & Associates Commercial Real Estate is the center’s leasing agent. The idea to develop a retail center on the Prairieville site was launched last year at the annual Trends in Real Estate Seminar, when Lynn Daigle with NAI/Latter & Blum approached Guidry about doing a build-to-suit for Gold’s Gym. The owners leased 20,000 square feet of the center to Gold’s and started construction.
“We have had a lot of interest from a lot of different users over the last few months, and we expect to be 100% occupied before construction is finished,” says Guidry.
The space is scheduled to be turned over to the tenants sometime in June, and the stores should open by the end of the summer.
