NEW ORLEANS (press release) — Gayle M. Benson announced on June 16 that 1515 Poydras Street, a prominent 27-story, Class A office tower positioned along the primary New Orleans business corridor, is officially under contract for her purchase. This acquisition is projected to be finalized in mid-July, at which time the management of the property will transfer to Corporate Realty, Inc.
Benson’s strategic acquisition of 1515 Poydras further underscores her continued and unwavering commitment to the city of New Orleans and the revitalization of its downtown core.
“The 1515 Poydras building is strategically located. It sits across from Benson Tower and the Caesars Superdome and the Smoothie King Center, and it is immediately adjacent to the soon-to-be expanding Medical District,” said Benson. “I remain steadfast in my commitment and belief in the future of our city. It is important now, more than ever, to continue to invest in our community. This acquisition is meant to complement future growth in the downtown area. We are working on plans that will enhance and expand the Sports and Entertainment District that are geared to addressing a better fan experience for those attending Saints and Pelicans games. In addition, the building’s proximity to the new Xavier Ochsner College of Medicine (XOCOM) at 1400 Poydras Street is a tremendous asset, as is the proximity to the soon-to-be redeveloped Charity Hospital complex.”
Completed in 1983, 1515 Poydras encompasses nearly 529,000 rentable square feet (rsf) of Class A office space and includes a 494-space in-building parking garage. The building design features white precast concrete panels and reflective glass. Located just two blocks from where I-10 intersects Poydras, it sits in the city’s primary business corridor. It occupies a full city block bounded by Poydras, Perdido, LaSalle, and Freret streets, directly within the Central Business District and abutting both the Sports and Entertainment District and Medical District.
In 2009, Benson acquired the vacant and Hurricane Katrina-damaged New Orleans Centre development which included Dominion Tower, the 1.0 million-sf New Orleans Centre Mall, and a 2,000-space parking garage. This blighted asset has been completely renovated, reinvented, and re-leased by Benson and her team. Champions Square, a vibrant gathering spot for celebrations, festivals, and tailgating before and after Saints games, has replaced the New Orleans Centre Mall. The 540,000-sf Benson Tower office building (formerly Dominion Tower) and the adjacent 115,000-sf Benson Tower Annex (formerly the Lord & Taylor store) are 100% leased to a combination of Ochsner Clinic and Foundation and the State of Louisiana. The Benson Tower Annex is slated to also house the new Xavier Ochsner College of Medicine (XOCOM), one of a handful of new medical schools in the US in the last few decades.
In 2022, Benson opened the Mercedes-Benz Van Center of New Orleans on the 1700 block of Poydras Street. Benson is also an owner of the adjacent 1,100-room Hyatt Hotel.
“Mrs. Benson’s commitment and vision are very apparent in her confidence in the downtown business corridor. And that continues with Corporate Realty, which has long been an advocate for continued downtown development and investment in professional jobs that will help our city fulfill its full potential,” said Michael J. Siegel, president of Corporate Realty. “As with Mrs. Benson, we remain confident about the future of Downtown New Orleans and believe that Mrs. Benson’s acquisition of 1515 Poydras is an important step in connecting the business community to the Medical District and to the Sports and Entertainment District of New Orleans.”
Siegel emphasized that while future uses for the building are still being evaluated, Benson has no plans for 1515 Poydras to compete in the traditional office tenant marketplace. Instead, both Benson and Corporate Realty will focus on strategic positioning that aligns with long-term growth and innovation in the downtown area.
Benson added, “As with Benson Tower and my investment in the Hyatt Regency, this purchase is meant to complement, to be a catalyst for supporting future growth in commerce, job creation and new business development in our city. We need to keep pressing forward and keep investing. Right now, as our state makes great strides in building an environment that is attractive to new business development, New Orleans must also have a similar vision for future business growth and investment. This is and has been my goal and I will continue to invest in our community.”
The transition will also retain key personnel for continuity and quality in management. Notably, Sue Tucker, CPM®, who previously served as Executive Vice President, Group Manager for JLL at 1515 Poydras, will continue managing 1515 Poydras as part of the Corporate Realty team. Tucker’s role will be further expanded to assist Corporate Realty with other Corporate Realty-related property management endeavors.
This acquisition is another milestone in the ongoing transformation of Downtown New Orleans—a reflection of confidence in the city’s future and a commitment to fostering economic development and community investment.
About Corporate Realty
Corporate Realty is a full-service commercial real estate agency based in New Orleans, Baton Rouge, and LaPlace that serves the entire Gulf Region. The company has consistently been involved in the largest, most complex, and most demanding real estate transactions and management assignments in this region. Corporate Realty prides itself on having the most knowledgeable real estate professionals in the market. To find out more about the company and its services, visit corp-realty.com.
