SRS’ Investment Properties Group (IPG) exclusively marketed and brokered the sale of Elmwood Oaks Shopping Center, a retail community center shadow anchored by Walmart Supercenter and featuring Academy Sports and Dollar Tree. The community center consists of 136,284 square feet and is situated on 11.80 acres of land. The center is roughly 96% occupied by a mixture of national, regional and local tenants including Academy Sports & Outdoors, Dollar Tree, Lumber Liquidators and AutoZone. Elmwood Oaks is located at 800 South Clearview Parkway, on the southwest corner South Clearview Parkway and Jefferson Highway, with a combined traffic count of 86,029 vehicles per day. The center’s strategic location is just 8 miles west of downtown New Orleans and provides a dense demographic profile with roughly 287,000 people within a 5-mile radius and an average household income of almost $80,000 within 3 miles of the Property. The seller, Regency Centers, sold the property on October 25, 2019 to Property Commerce Dividend Fund, LP.
“Elmwood Oaks is a strategic piece of real estate in a dense, high-traffic part of New Orleans,” said Kyle Stonis, managing principal of SRS’ Investment Properties Group. “Having successfully sold two Academy Sports-anchored assets in the last 10 months, we continue to see buyers getting comfortable with strong Academy stores, supported by the intrinsic value of the locations and underlying real estate.”
Kyle Stonis, managing principal, and Pierce Mayson, principal, of the Investment Properties Group in the SRS Atlanta office, along with Steve Miskew, managing principal, of the Investment Properties Group in the SRS Fort Lauderdale office represented the seller in the transaction. The buyer was self-represented in this transaction
About SRS Real Estate Partners
SRS Real Estate Partners is the largest real estate company in North America exclusively dedicated to retail services. Headquartered in Dallas with more than 25 offices worldwide, SRS’ strong reach and international presence provide the company with unparalleled knowledge both globally and domestically. As a result, clients of SRS have a competitive edge through a full range of offerings including brokerage services, corporate services, development services and investment services. Since its inception in 1986, SRS has built a strong foundation in the retail real estate world and grown into one of the industry’s most influential and respected leaders. Our success is measured in the achievement of our clients’ objectives, satisfaction and trust. For more information, please visit www.srsre.com.