The former Hancock Fabrics space at 3464 Drusilla Lane in the Drusilla Village Shopping Center will become a temporary distribution site for Best Buy, which needs additional space for its appliance and electronics inventory in the wake of last month’s flood.
The Minnesota-based retailer has signed a six-month lease for the 12,000-square-foot space with a six-month option to renew, according to Donnie Jarreau, who owns the shopping center.
Best Buy’s local real estate agent, Larry Rabin of Corporate Realty in New Orleans, says his client is leasing the space as a direct result of the flood.
“They don’t have enough stock in their local stores to carry all the refrigerators they need to meet demand,” Rabin says.
Jarreau expects Best Buy to move into the new space in the next two to three weeks.
Hancock Fabrics closed earlier this summer, one of 183 locations in the bankrupt fabrics and craft store chain that was being shut down by its new owners.
—Stephanie Riegel
