ATLANTA, GEORGIA (November 9, 2021) – SRS’ Investment Properties Group exclusively marketed and brokered the sale of two single-tenant net lease Winn-Dixies situated within the New Orleans−Metairie−Kenner MSA. The assets are located at 2985 Gause Boulevard and 3030 Pontchartrain Drive in Slidell, Louisiana. They are the only Winn-Dixie stores located within Slidell. Strategically situated on the northeast and southwest sides of city, the stores maximize their respective trade areas which is indicated by their strong store sales. Winn-Dixie has more than 23 years of tenure at each location. H&R 2985 Gause LLC, and H&R 3030 Pontchartrain LLC, sold the property on October 13, 2021, for $10.857 million to NS Retail Holdings, LLC.
The Gause Boulevard location was built in 1998. It consists of 44,788 square feet and is situated on 5.7 acres of land. The Pontchartrain Drive store was built in 1973. It consists of 44,780 square feet and is situated on 6.74 acres of land. Each store is positioned at a signalized intersection with nine total points of ingress/egress between the locations. The Gause Boulevard store accesses a combined traffic count of 31,051 vehicles per day, while the Pontchartrain Drive location accesses 32,185 vehicles per day.
“Throughout 2021, we have seen extremely strong demand from the marketplace for single-tenant grocer assets and grocery-anchored product,” said Kyle Stonis, managing principal of SRS’ Investment Properties Group. “Southeastern Grocers has done an excellent job over the last 24 months of bolstering its position within the sector by focusing on its core markets throughout Florida and Louisiana, where it continues to have very successful stores.”
Kyle Stonis and Pierce Mayson, managing principals of the Investment Properties Group in SRS’ Atlanta office, along with William M. Place, partner of L + A Retail represented the seller in the transaction. The buyer was self-represented.
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 srsre.com.