Mark Gilbert and Fain Hicks of Cushman & Wakefield’s Retail Investment Advisors represented the seller in the transaction. Azad Commercial Realty Services, LLC, acquired the property.
“Hammond Aire Plaza presented the opportunity to acquire an established multi-anchored shopping center with powerhouse annual tenant sales,” Hicks said. “The property is centrally located in Baton Rouge just seven miles east of downtown Baton Rouge and Louisiana State University’s campus and attracts customers from a widely expanded trade area.”
Hammond Aire Plaza, located at 9616-9638 Airline Highway, is anchored by Burlington, Marshalls, Michaels, Stein Mart and shadow-anchored by Albertsons. The property is 97% leased with 89% of the occupancy attributed to national tenants.