First-to-Market Outlet Shopping Center in New Orleans Sells for $34M
The Howard Hughes Corporation has sold The Outlet Collection at Riverwalk, an urban outlet center in New Orleans, LA, to RockStep Capital for $34 million.
Tom Salanty with NAI Robert Lynn represented The Howard Hughes Corporation on the sale. CREF Source arranged the acquisition and redevelopment financing for RockStep Capital’s purchase through a consortium of three New Orleans area banks that include b1Bank as the lead bank and M C Bank and Liberty Bank as participating banks.
The Outlet Collection at Riverwalk is a 264,000-square-foot, first-to-market outlet shopping complex in the heart of downtown New Orleans. The property hosts 75 retailers and restaurants from its position on the bank of the Mississippi River.
National tenants include Polo Ralph Lauren Factory Store, Nordstrom Rack, Le Creuset, Levi’s, Calvin Klein Underwear, Under Armour, Tommy Hilfiger, Tommy Bahama Outlet, Forever 21, Coach, The PUMA Store, and Guess.
- ◦Sale/Acquisition