Fully tenanted downtown retail doesn’t come to market often. When it does at a corner like Poydras Street and Loyola Avenue, steps from the Caesars Superdome, it moves. The ground-floor retail condominium at 1200 Poydras Street closed this week, with the tenant roster anchored by Chick-fil-A and Hurts Donut, and Juicy Seafood set to open imminently. Steve Reisig and Christopher Robertson Jr. of SRSA Real Estate represented the seller.
Poydras Properties II, LLC sold the 17,270 SF ground-floor retail condominium at 1200 Poydras Street, New Orleans, LA 70113 for $7,272,000 in a 1031 tax-deferred exchange. Steven Reisig and Christopher Robertson Jr. of SRSA Real Estate represented the seller.
Poydras Street and Loyola Avenue is one of the most active intersections in Louisiana, with the Loyola Streetcar Line running directly past and a surrounding cluster of demand drivers that few retail locations can match: Caesars Superdome, Champions Square, Hyatt Regency New Orleans, Entergy Tower, and New Orleans City Hall all within walking distance, generating consistent foot traffic across every day of the week and through the evening on event nights.
Chick-fil-A is the only location of the brand in the CBD, operating as a walk-up concept with a loyal following and an active catering program. Hurts Donut Company, a 24-hour craft donut franchise with locations across the country, brings around-the-clock draw and national recognition. Juicy Seafood, a fast-growing casual dining brand known for Cajun-style seafood boils, will be opening at this location with a dedicated sushi concept, making it a first-of-its-kind debut for the brand in the market and a signal of continued operator confidence in downtown New Orleans.
Downtown New Orleans has seen sustained investor interest over the past several years, and SRSA has been active throughout. The team recently closed the investment sale of 700 Baronne Street in the Warehouse District, a fully leased commercial condo occupied by Red River Bank, and previously brokered the sale of the 1200 Poydras parking garage, which is attached to this property and continues to serve its tenants and patrons. Those transactions, alongside this closing, reflect the consistent appetite investors have shown for well-located, income-producing assets in the CBD. The fundamentals driving that interest remain strong: a growing residential base, a hospitality sector expanding with new hotel openings and renovations, and a sports and entertainment district that draws crowds well beyond the standard weekday.
With this closing, SRSA has now completed the sale of every retail condominium at 1200 Poydras Street, capping a multi-phase effort that spanned distinct asset types and buyer profiles within a single building.
“Downtown New Orleans retail at this level rarely trades, and when it does, it tends to go quickly,” said Steve Reisig, Founding Partner. “We’re proud to have completed the full disposition of this building on behalf of our client and to have placed this asset with a buyer who understands the long-term story here.”
“This is a generational asset in downtown New Orleans,” added Christopher Robertson Jr., Senior Real Estate Analyst. “The combination of Chick-fil-A’s proven performance, incoming new concepts, and the broader investment momentum along the Poydras corridor makes this a compelling long-term hold for any investor.”
