Louisiana retail and office development sells for $30.5M

DALLAS, August 4, 2022 – JLL Capital Markets announced today that it has closed the $30.5 million sale of Louisiana Boardwalk, a 560,343-square-foot, value-add entertainment and shopping development located in Shreveport/Bossier City, Louisiana.

JLL represented the seller, and procured the buyer, Routh Group, led by Todd Routh.

Built in 2005, the property is currently at 67 percent leased and offering 185,000 square feet of available retail and office space. The property is anchored by an impressive line-up of tenants, such as Bass Pro Shops Outdoor World and Regal Cinemas. Additional tenants include Dollar Tree, Nike and Cumulus Broadcasting.

Located at 540 Boardwalk Blvd., the property is ideally positioned along Interstate 20 and is set on the banks of the Red River directly across from downtown Shreveport. The location offers visibility to the approximately 100,000 vehicles per day on I-20. The center is also within steps of the Margaritaville Resort Casino and Horseshoe Bossier City Casino, two of Louisiana’s largest gaming establishments that draws patrons from Northern Louisiana, Dallas/Fort Worth and Southern Arkansas.

The JLL Retail Capital Markets Investment Sales and Advisory team that represented the seller was led by Senior Managing Directors Adam Howells, and Ryan Shore, Director Zach Riebe and Analysts Matthew Barge and Cole Sutter.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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Founded in 1992, Routh Group owns and manages 120 properties in 12 States.