CityBusiness published a report on New Orleans commercial real estate trends on April 4th stating that, “local real estate experts expect more national chain workout facilities to open in the New Orleans area, with most targeting strip malls where low rents ensure a better chance for profits.”
Corporate Realty Leasing Associate Casey Burka was one of the experts that CityBusiness went to for information on the state of the market. He said, “there are too many submarkets to generalize trends but noted that “pricing is getting higher.”” Casey also noted that “lagging areas such as eastern New Orleans have at least seen signs of hope, with a Walmart Supercenter planned for Bullard Avenuein 2013 and a Save-A-Lot already open on Lake Forest Boulevard. Restaurants have led overall growth, Burka said, with the Bywater neighborhood being a recent hot spot. Three restaurants have opened there in almost as many months — Maurepas Foods, Suis Generis and Jim’s.”
The agents of Corporate Realty know the New Orleans region as well as anybody and are happy to help you navigate the market. Give us a call today at 504.581.5005 to learn more.