Bluebonnet Parc, the Best Buy-anchored shopping center next to the Mall of Louisiana, is on the market.
Interest in the 135,000-square foot shopping center has been "robust," said John Riser, of Riser Retail Group in Indianapolis, Indiana, who is the broker for Bluebonnet Parc, along with Billy Hoffpauir, formerly with Marcus & Millichap in Lafayette.
"You're on Interstate 10, you're next to the Mall of Louisiana and you have a high performance Best Buy," Riser said.
The center will be marketed for the next month, with no asking price. The goal is to select a buyer in the next six weeks, Riser said.
The center is 95 percent occupied and there's an undeveloped 15,000-square-foot parcel on one end of the property. Other tenants include David’s Bridal, Men’s Wearhouse, Buy Buy Baby and Destination Maternity.
LifeWay Christian Stores, which recently announced plans to close all of its brick-and-mortar stores, has a location in Bluebonnet Parc with a lease that runs through October 2022.
Home Furniture Plus Bedding has a store that will become a Havertys furniture location in the summer, Riser said.
Bluebonnet Parc was sold in 2013 to Cincinnati-based Viking Partners Fund II for $21.3 million.
Bluebonnet Parc is the last shopping center remaining in the fund, so Viking is looking to sell the property, repay fund participants and use the equity to buy more retail space, Riser said.