August 02, 2017
Lafayette, La. – Transwestern’s Southeast Investment Services Group today announces it brokered the disposition of Ambassador Plaza in Lafayette, Louisiana. The 29,405-square-foot center shadow-anchored by Albertsons was acquired by Westbrook AC Properties LLC for $5.3 million. Transwestern Vice President Fred Victor represented the seller, KIMCO Realty, in the transaction.
“The Ambassador Plaza transaction is a perfect example of a well-capitalized private investor acquiring a high-quality asset in a market that has become non-strategic for a REIT,” said Victor.
Developed in 1999 to institutional-quality standards, Ambassador Plaza performs well and is competitive within the Lafayette market. The property benefits from an exceptionally high-quality shadow anchor, resulting in strong and steady cash flow. Ambassador Plaza features solid tenancy, proximity to downtown Lafayette and convenient ingress and egress.
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