Bluebonnet Parc

Short Description:
The Cooper Commercial Investment Group is pleased to announce the sale of Bluebonnet Parc, a four-building power center anchored by Best Buy, BuyBuy Baby and Havertys, along with Men’s Wearhouse, David’s Bridal and Richport Technical College.

Details
Dan Cooper, President and Broker of the Cooper Commercial Investment Group in Cleveland, Ohio, had the privilege to represent the seller, a private investment group whom Cooper has worked with on multiple transactions in the past. The private, out-of-state buyer of purchased the asset for $17,150,000, representing an 8.25% CAP Rate. The buyer was located by the Cooper Group the first day of marketing the asset for sale, and the sales price achieved was just under 99% of the listing price. Through the marketing process, the Cooper Group generated multiple attractive and competitive offers for the asset. The well-positioned asset in the high-barrier to entry Baton Rouge, Louisiana, retail market offers significant upside through the lease-up of the remaining vacant units. Bluebonnet Parc is comprised of 94% national tenants on corporately-backed leases with a strong history at the center. The Cooper Commercial Investment Group looks forward to working with parties interested in selling or looking to acquire other similar commercial assets and encourages you to contact them for a no obligation, evaluation of your commercial property. Visit online at www.CooperGrp.com for the most up-to-date listings and information, stay connected, “Like” them on Facebook and follow on Twitter @TheCooperGrp.