HOUSTON (May 20, 2021) – SRS’ Investment Properties Group (IPG) exclusively marketed and brokered the sale of River Crest Shopping Center, a twelve-tenant shopping center located in Bossier City, Louisiana. The center is positioned at 4970 Barksdale Boulevard, at the signalized intersection of US Highway 71 and Robert E Lee Boulevard, with 24,000+ vehicles per day. River Crest Shopping Center is situated on 2.70 acres of land and consists of 22,140 square feet. Built in 2007, the Center is marked by high quality, contemporary construction, and retail aesthetic. The center was 74.5% occupied. The tenant roster includes national retailers, –Verizon, Smoothie King, and Little Caesars. The seller, Sealy River Crest I, LLC, sold the property on April 14, 2021 to Wen Jing Real Estate, Inc. The owner was the original developer of the center.
“River Crest presented a great value-add opportunity with durable in-place cash flow” said Aaron Johnson, principal in the Dallas/Ft. Worth office with SRS’ Investment Properties Group. “Unanchored strip centers fared well during covid, especially those like River Crest whose tenants were predominantly local entrepreneurs committed to protecting and preserving their business during pandemic.”
Aaron Johnson, along with Brad Gibbs, vice president, in the SRS Dallas/Ft. Worth office, represented the seller in the 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.