Franklin Street has arranged the $3.15 million sale of The Bulls Eye, a newly-constructed strip retail center located at 3504 Jackson Street in Alexandria, Louisiana. John Tennant and Bryan Belk of Franklin Street’s Atlanta office represented the seller, D3 Alexandria, LLC of Nashville, Tennessee, in the transaction of the 6,400-square-foot property. The buyer was Latta Properties, LLC of Boise, Idaho.
The Bulls Eye is located just off MacArthur Drive, which is the main north-south thoroughfare through Alexandria. The center features two strong national tenants in Mattress Firm and Verizon Wireless.
“The sale of this property indicates that net lease buyers still have significant interest in two-and three-tenant strip centers as an avenue to earn a higher return than single-tenant properties,” said Tennant, senior director of retail investment sales at Franklin Street. “The Bulls Eye was an attractive investment asset due to its solid client roster and proximity to high-traffic generators.”
“The property’s name, The Bulls Eye, fits the area perfectly,” said Belk, senior director of retail investment sales at Franklin Street. “The center is located on a prime corner in the heart of the Alexandria retail trade area and is surrounded by successful national retailers including Walmart, Sam’s Club, Kroger, Academy Sports, and the Alexandria Mall.”
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