Crowley, LA Time Equities, Inc. (TEI), a New York City-based international full-service real estate firm, have acquired Crowley Plaza, a 27,228 s/f retail strip center located at 725 Odd Fellows Rd. for $3.425 million. This is the TEI’s first asset in Louisiana.
“With the acquisition of Crowley Plaza, we have expanded Time Equities’ real estate presence into a new market,” said Ami Ziff, managing director of national retail at TEI. “As a leader in the shadow-anchored strip asset class, we are excited to grow our retail portfolio with this acquisition, leveraging our successful track record to create vibrant community hubs that attract both visitors and ensure tenant satisfaction.”
Bulit in 1999, Crowley Plaza is comprised of two separate multi-tenant buildings shadow anchored by a Walmart Supercenter. The shopping center is located at the intersection of Odd Fellows Rd. and Tower Rd., which sits just south of Interstate 10, seeing over 22,000 vehicles per day. The surrounding area is home to national retailers including Lowes, Walgreens, and more.
Crowley Plaza is currently 78% leased and hosts a mix of retail and service-oriented tenants, including:
- Game Stop
- Sally Beauty
- AT&T
- Express Urgent Care
- US Agencies Insurance
"TEI is in a prime position to capitalize on the nationwide surge in demand for retail space across open-air centers” We are excited to grow our national retail portfolio to a new state and expand the retail offerings for residents of Crowley," said Ziff.
TEI was represented in-house by Ziff, Jonathan Kim, Grant Scott, and Eli Smith. The sellerwas represented by Hudson Lambert, Partner at Strive.
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