Southgate Shopping Center 2702-2948 Ryan St

Edge Capital Markets has been exclusively retained to present the opportunity to acquire Southgate Shopping Center (“Property”), a 90% leased, 171,318 square foot center in Lake Charles, Louisiana, anchored for nearly 40 years by Market Basket, a leading regional grocer in the Texas and Louisiana region. The Property is located at a highly coveted and commanding position in the heart of Lake Charles’s retail corridor, surrounded by economic drivers ranging from petrochemical refining, gambling, tourism, healthcare, and education.
The Property has tremendously benefited, both aesthetically and structurally, from the extensive renovation, creating a more modern feel, ranging from new roofs, new facades, windows, and HVAC to lighting in 2022, greatly enhanced the curb appeal while minimizing the need for capital expenditures for the foreseeable future. As part of the renovation, Market Basket agreed to expand and exercise two renewal options early, solidifying them as the lead generator of consumer traffic for the future benefit of the Property.
Southgate Shopping Center has consistently maintained a long and successful history due to its broad tenant mix of national and regional tenant lineups focused on consumer experiences and services and its strategic location that is supported by high consumer traffic along Ryan Street, one of the area’s primary north-south arterials that connect Interstate 210 to I-10, and benefits from two signalized intersections as well as exceptional access and visibility.
Southgate Shopping Center allows an investor to acquire a proven, turn-key asset anchored by the region’s premier grocer in a thriving retail market. The property has a proven, stable income stream and additional near-term upside through the lease-up of the existing vacancies. In addition, the Property can be acquired on a favorable cost basis, creating an economic moat that offers significant protection against existing centers and future developments poaching tenants while limiting downside risk from future construction.