A pair of New Orleans investors continues to add to their portfolio of Capital Region Walmart shadow centers by purchasing the retail strip center property on South Airline Highway in Gonzales.
Oliver and Monica Montagnet purchased the roughly 24,000-square-foot retail center through their The Gonzales Center entity from Dianna and Casey Patterson, Jonathan Starns and Brandon Dodson for an undisclosed amount, according to a deal filed recently with the Ascension Parish Clerk of Court’s office.
The property was listed for sale at around $4.7 million.
Noah Loveland of Elifin brokered the deal for the buyers, while Donnie Jarreau of JRE represented the seller.
“They believe in Walmart’s business and the traffic that they bring to the centers. When I first met him [Oliver Montagnet] in November 2025, he just told me, ‘I don’t want to buy any other property other than these Walmart shadow centers,’” Loveland says.
The Gonzales center is co-anchored by Hibbett Sports and Hello Tokyo. It is the third Walmart purchase for the Montagnets in 18 months.
The couple purchased the approximately 37,000-square-foot Walker Plaza center in March. In September 2025, they purchased the Village Square retail center on College Drive for $6.8 million and also own a shopping center on Coursey Boulevard near Fresh Pickins Market. Their portfolio also includes multiple properties in New Orleans, including 731 St. Charles Ave., a former office building converted into a 71-unit mixed-use luxury condominium development in 2021.
