$250M South Market District Continues Dynamic Retail Space Leasing
- Nov 01, 2014
By Eliza Theiss, Associate Editor
As The Domain Cos. gears up to start pre-leasing the 20,000 square feet of retail that will be included in the 126-unit The Beacon, The South Market District’s third phase, the project’s first two phases are filling up at a steady pace. In fact, retail space in the 444-car The Park is 100 fully leased and the 209-unit The Paramount is now 96 percent leased, after a steady stream of retail announcements over the past few months.
“We have one small space available,” Megan Mcneill, a Marketing Manager at Domain, told Multi-Housing News. Domain has worked with Atlanta-based Terremark Partners on leasing the retail space to both local and national businesses.
One of the most recently signed businesses is Barre3 New Orleans. The Uptown New Orleans studio specializing in the barre3 fitness system, announced it will be opening a second location at the 209-unit The Paramount. The new location will target South Market residents, downtown workers and tourists. Barre3 will add to the existing 3,500 square feet of fitness space available at The Paramount.
Blaze Pizza also joined The Paramount’s tenant line-up in October, hot on the heels of Ursa Major and Magasin Kitchen. Blaze Fast-Fire’d Pizza, a rapidly growing California-based pizza chain will open in January 2015, joining the brand’s 12 nationwide locations. Magasin Kitchen will also open early in 2015, courtesy of Magasin, the acclaimed New Orleans Vietnamese restaurant on Magazine Street. The second Magasin location will feature a sustainability-centric open design, courtesy of LSArchitecture PLLC and local green design firm Spruce Interiors & Design Studio. Ursa Major will also be led by a local team. The new restaurant concept developed by the team behind Bywater’s popular Booty’s Street Food will not only operate a restaurant at The Paramount but also serve as the apartment community’s exclusive poolside food and beverage provider.
National furniture company Arhaus was the first retailer announced for the highly anticipated $250 million South Market. Arhaus, The Park’s anchor tenant, is the brand’s first Louisiana location. Another significant tenant of the $21.3 million The Park is CVS, which will take up 10,000 square feet of the building’s 27,000-square-foot retail space, The Times-Picayune reported. Hattie Sparks, the popular Uptown lifestyle boutique store, will also open a second location at The Park. The five-story, 444-car parking facility’s tenant line-up will be completed by Enterprise CarShare, New Orleans’ first public car-sharing program, according to WDSU News. Enterprise CarShare’s initial fleet will also feature two hybrid cars, adding to The Park’s many green features, which also include a bike-sharing program for South Market residents. The Park will also be the city’s first public parking facility to offer electric car-charging stations.
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Images courtesy of The Domain Cos.