JLL Capital Markets recently closed the sale of two previous big box department stores located in San Antonio, TX and Lafayette, LA
News release
27 April 2023
Two former Sears stores sell in Texas and Louisiana
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HOUSTON, April 27, 2023 – JLL Capital Markets announced today that it has recently closed the sale of two former Sears stores located in San Antonio, Texas and Lafayette, Louisiana. The total size of both properties is 365,857 square feet.
JLL marketed the two properties on behalf of the seller, and both properties were acquired by a unique investor.
The properties include:
· 6301 Northwest Loop 410, a 169,865-square-foot box space located at TX Ingram Mall in San Antonio, Texas.
· 5717 Johnston St, a 195,992-square-foot box space located at Acadiana Mall in Lafayette, Louisiana.
The JLL Retail Capital Markets team handling these transactions was led by Senior Managing Director Ryan West, Managing Director John Indelli and Managing Director Davis Adams.
“The two transactions demonstrate strong retailer and investor demand for available retail box space in high-quality locations. Fundamentals are very healthy throughout Texas and Louisiana with occupancy rates running north of 95% in these markets,” Indelli said.
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 sales and 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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About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $20.9 billion, operations in over 80 countries and a global workforce of more than 103,000 as of December 31, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.