Retail Booms in NOLA with Old Projects and New
By Eliza Theiss, Associate Editor
Retail took a front seat in New Orleans’ commercial real estate market again, with updates on an already underway development flooding the news cycle as well as new projects being announced.
Stirling Properties and CBL & Associates Properties Inc., the joint venture currently developing the 80-acre Fremaux Town Center (formerly known as Summit Freamux), has announced adding a host of new businesses to its future tenant mix. The five new businesses will take up shop in the 295,000-square-foot first phase of the retail center, scheduled to open in Spring 2014.
Among the new tenants are eateries Cheddar’s, a neighborhood restaurant that will take up 8,000 square feet with its first Louisiana location, and bakery café Panera Bread. Panera’s 5,000-square-foot store will be its second in St. Tammany Parish, after its Covington location. Home décor retailer Kirkland’s has inked a 7,000-square-foot lease for its third St. Tammany store, while children’s clothing brand Carter’s opens its first shop in East St. Tammany, taking up 4,000 square feet. A further 3,000 square feet have been leased by national chain Massage Envy, which is not new to the area, as it already has another location in the parish.
Located at the corner of I-10 and Fremaux Avenue in Slidell, Fremaux Town Center is expected to become a regional shopping destination once both phases are complete. Phase one is set for a spring 2014 completion, while the 320,000-square-foot phase two will open a year later. Read our previous coverage of the project here.
In other retail news, Gretna City Council has approved plans to develop a 45,000-square-foot Rouses Market at the Westside Shopping Center. According to The Times-Picayune, the New Orleans-based grocery chain plans to start construction within a month’s time, targeting a fall 2014 opening date. The new store will be located at the back of the shopping center, which is currently undergoing an $8 million renovation and gained several new tenants recently, including AutoZone and Planet Fitness. The Times-Picayune also reported construction starting on the 112,000-square-foot Walmart Supercenter set to replace the Gentilly Woods Shopping Center on Chef Menteur Highway. Scheduled to open in late summer 2014, the $14 million store went through a long and winding process before receiving final approval. Read our previous coverage of the development here.
Image courtesy of Freamux Town Center via FacebookTags: Architecture/Design, Brokers, Carter’s, CBL & Associates Properties, Cheddar’s, Consumer, Developers, Development, economy, Finance/Investment, Financiers, Fremaux Town Center, Gentilly Woods Shopping Center, Gretna, grocery store, Inc., Investors, Kirkland’s, leasing, Local, Maintenance, National, New Orleans Lead Story, New Orleans retail market, Owners, Panera Bread, Policy, Regional, retail, retail tenant mix, Rouses Market, shopping center, Slidell, St. Tammany submarket, Stirling Properties, Walmart Supercenter, Westside Shopping Center