Magnolia Square Shopping Center

Magnolia Square Shopping Center was purchased in 2022 for $16,750,000.  JRE sourced this asset off-market through its extensive network of brokers and owners.  Anchored next to the region’s only Target and with a strong national tenant lineup, Magnolia Square is arguably the best piece of commercial real estate in Houma.  With 36 investors and a 10 year fixed-rate CMBS loan, JRE plans to hold this property for the long-term and expecting to deliver cash returns to its investors of 10%.  This property was purchased with a single vacancy in place, which was filled within 6 months of closing at a higher rent, lower cost and sooner than was budgeted for in the Offering Memorandum.