3200 Severn Ave

[Jennifer LaNasa]

Investment Info:

Retail commercial investment investment.

Purchase price: $2,300,000
Cash invested: $500,000

20,000 sq ft retail shopping center in Metairie LA across from Lakeside shopping center. Currently fully leased with 11 tenants.

What made you interested in investing in this type of deal?

upgrading my commercial portfolio

How did you find this deal and how did you negotiate it?

I was leasing up the site for the original owners who inherited it

How did you finance this deal?

went to a local bank did a 1031 exchange

How did you add value to the deal?

i asked the bank for a line of credit to change the and upgrade the exterior then I started working on the interiors as the tenants would move, then Hurricane Ida took the roof off 4 years ago completely rebuilt took the opportunity to renegotiate leases and increased cash flow

What was the outcome?

fully leased cash flowing and increased the value

Lessons learned? Challenges?

it's been very difficult but because of my background and experience it's a great investment

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I am a Broker since 1985 Home Bank as my go to lender for the most part work with someone local who has the knowledge and experience that you need