Siegen Village Shopping Center sold for $18M

The Siegen Village Shopping Center, located across from Target, was recently sold to a Houston-based real estate investment group for $18 million, according to sales documents.

Gulf Coast Commercial Group bought the property though GC Siegen LLC from Equity One (Louisiana Portfolio) LLC.

Gulf Coast Commercial Group and its affiliates have overseen the development of more than 7 million square feet of retail space in 12 states, according to the group’s website. Along with Siegen Village, the group also owns developments in Lafayette and Lake Charles.

The roughly 21-acre Siegen Village—built in 1988—is anchored by Office Depot, Planet Fitness and Big Lots. There are currently three vacancies in the center, where rental rates vary between $17 and $19 per square foot per year, according to an online listing.

David Persac, of Persac Properties, is listed as the leasing agent for the center. Neither he nor a representative of Gulf Coast Commercial Group could be reached prior to publication for more information.  

 

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