NEW ORLEANS — Commercial real estate (CRE) activity across St. Tammany Parish has remained relatively stable in recent years, supported by population growth, suburban demand and continued retail activity along major Northshore corridors, even as higher interest rates have slowed new construction and reduced permitting levels.
That environment has contributed to a market increasingly defined by ongoing, incremental investment and tenant-driven demand rather than large-scale development, with retail and service-oriented properties continuing to attract investor interest across Mandeville, Covington and Slidell.
The trend was reflected in a series of commercial property sales totaling more than $5 million recorded across St. Tammany Parish last week, according to a May 11 market snapshot published in The Pulse, a weekly commercial real estate newsletter from Elifin Realty, with transactions concentrated in retail and service-oriented assets.
"The Northshore presents an incredible opportunity for investors. Young, entrepreneurial talent has been flocking to the area," said Mathew Laborde, CEO, Elifin Realty. "It's a trend I believe you'll continue to see show itself in future development and positive growth."
The largest deal involved a multi-tenant retail strip center at 1810 North Causeway Blvd. in Mandeville, which sold for $3.05 million, or about $354 per square foot, to Highway 23 LLC. In another transaction, a veterinary clinic and adjacent parcel near the lakefront in Covington sold for $1.3 million to Gernon Assets LLC.
Additional activity included the $460,000 sale of a convenience store and gas station property along Old Spanish Trail in Slidell to 2060 OST LLC. Separately, Driven Brands Inc, a North Carolina-based automotive services company, acquired a roughly 0.8-acre parcel along Highway 25 in Covington for $561,000.
Taken together, the transactions reflect continued demand for neighborhood retail and service properties across the Northshore, particularly along high-traffic corridors. The pricing and property mix suggest steady investor interest in stabilized or service-oriented assets, rather than large-scale new development or office-driven deals.
Commercial Permits Signal Limited New Development
While the sales reflect investment activity, a review of commercial permits issued across St. Tammany Parish during the same week provides insight into on-the-ground development and construction trends.
Most permit filings across Covington, Mandeville, Slidell and surrounding areas listed little to no reported construction costs, indicating work limited to electrical upgrades, utility connections or minor tenant improvements that are typically associated with maintenance, occupancy changes or small-scale upgrades rather than new ground-up construction.
National Trends and Impact
The measured pace of activity comes as broader real estate conditions show signs of stabilization. A recent analysis from Zillow found the U.S. housing market hovering near neutral in spring 2026, with some Gulf Coast markets tilting toward buyers as inventory rises and competition cools. While the report focuses on residential real estate, the shift toward more balanced conditions can also influence investor sentiment and leasing demand across local commercial markets.
