METAIRIE, La. — SRSA Real Estate, in partnership with Faris Lee Investments, a retail advisory and investment sales firm, has successfully completed the sale of a single tenant net leased AutoZone on 4630 Veterans Memorial Boulevard in Metairie.
The transaction was led by SRSA Commercial Real Estate’s Partner / Director of Retail Kirsten Early and Faris Lee Investments’ Senior Managing Director Scott DeYoung, Managing Principal Jeff Conover, and Director Greg Lukosky, who collectively represented the Seller in the transaction. The transaction closed at $4.55M with an institutional buyer.
The advisory team utilized SRSA Commercial Real Estate’s deep market experience within the state of Louisiana and Faris Lee’s proprietary database to secure a successful outcome. By positioning the property’s strengths to a targeted pool of investors, the team successfully navigated a competitive pricing environment to meet ownership’s objectives.
“By combining local market saturation with our national investor reach, we were able to deliver transaction certainty and strong results for our client. Our team with Faris Lee has closed north of $100M in investment sales as a team over the past several years. Having previously handled the lease for this AutoZone location, I had a strong understanding of the asset coming into this assignment, which made our partnership with Faris Lee that much more effective,” said Kirsten Early of SRSA Commercial Real Estate. “Our team’s extensive track record in the Louisiana market allowed us to identify the right buyer profile for the asset,” said Scott DeYoung.
SRSA Real Estate
SRSA Real Estate provides commercial and investment sales services across Louisiana, Mississippi, Alabama and Florida, along with residential, property and facilities management services in the Greater New Orleans area.
Faris Lee Investments
Faris Lee Investments is a retail investment advisory firm that provides services related to dispositions, acquisitions, recapitalizations, distressed asset resolutions, portfolio sales and corporate sale-leaseback transactions.
