Houma, La. — Chase Properties Ltd. has purchased Magnolia Square, a 242,000-square-foot shopping center located in Houma, 60 miles southwest of New Orleans.
Retail Properties of America Inc. (RPAI) sold the asset for an undisclosed price. HFF brokered the transaction. The property is anchored by Ross Dress for Less, Michaels and PetSmart, and is shadow-anchored by Target. Magnolia Square is Beachwood, Ohio-based Chase Properties’ first acquisition in Louisiana.