Son’s Plaza Inc. of Chalmette has sold the Coursey Plaza Shopping Center—which is home to businesses such as The Tiger Paw Daiquiris and Grill, Signarama/Minuteman Press and Anytime Fitness—for $2.1 million to La. Coursey Plaza Inc., a Metairie-based investor. The sale of the center, located at 13711 Coursey Blvd., near the intersection of Hickory Ridge, closed on Friday. The sale price for the 15,533-square-foot center works out to about $135 per square foot. The shopping center was part of a larger retail development that includes a CC’s Coffee House and Bluebonnet Dental Care. The 360-unit, upscale Evergreen at Coursey Place apartments adjoin the rear of the center. Both the buyer and seller were represented by Wade Greene and Ben Stalter at Maestri-Murrell Commercial Real Estate. The property was 100% occupied with rents averaging around $13 per square foot, according to the marketing package. “This was a great deal for both the buyer and seller,” says Greene. “The high historic occupancy of the center and the strength of the local tenants generated a very high return to the purchaser.” The new owner will hold the new purchase as an investment.
Coursey Plaza Shopping Center sells for $2.1 million
March 25, 2014 by