High Potential Properties In High Traffic Areas
Viking Partners LLC, a Cincinnati-based private equity real estate firm, has acquired Bluebonnet Parc in Baton Rouge, Louisiana, and Jackson Downs in Nashville, Tennessee, both shopping centers are in well-trafficked, affluent suburban areas.
Bluebonnet Parc, a 135,367 square foot property on 18 acres is situated near the Mall of Louisiana, which sees 15 million visitors annually. The shopping center is ideally located between Interstate 10 and Bluebonnet Boulevard in Baton Rouge. With a population of 231,000, Baton Rouge is the second most populated city in Louisiana. With an 81% occupancy rate, big box retailer Best Buy as well as David’s Bridal and Men’s Wearhouse are among the key tenants of Bluebonnet Parc. Viking Partners plans to lease the remaining vacant space and develop a currently vacant outparcel into 15,000 additional square feet of leasable retail space.
Jackson Downs is shadow-anchored by Target and Kohl’s and comprises nearly 135,000 square feet on over 16 acres with tenants such as Marshall’s, Office Max, Party City, CATO, Dollar Tree, Pier One and GameStop. The property, located in Nashville, Tennessee, with a population of 1.6 million, and relatively low unemployment, situated near several major employment hubs and has been named a ‘Top Five Best Places For Business’ by Forbes. Jackson Downs fits well with Viking’s strategy to add-value via aggressive management, leasing, renovations and possibly develop of an adjacent parcel.
Viking Partners Bret Caller noted, “These acquisitions represent long-term potential in areas with stable or growing traffic and sustainable demographics,” Viking Partners seeks to acquire value-added real estate opportunities located in the Midwest and Southeast with a transaction range of $2 million to $50 million. Acquisition submittals should be addressed to Greg Scheper firstname.lastname@example.org and Lev Orlov email@example.com or (513) 793-9919.