Lafayette, La. — Kimco Realty Corp. has sold Acadiana Square, a 244,768-square-foot retail power center located in Lafayette, for $24 million.
Richard Reid, Jim Hamilton and Ryan West of HFF represented Kimco in the transaction. The property was acquired by a partnership between DRA Advisors and RCG Ventures LLC. Scott Tarbet of RCG Ventures and Brett Gottlieb of DRA Advisors represented the partnership in the transaction.
The property is located across the street from Acadiana Mall, and was 91 percent leased at the time of sale to tenants including TJ Maxx, PetSmart, Office Depot, Stein Mart, Party City, Shoe Carnival and Home Furniture Company.
Michaels, Toys “R” Us, Babies “R” Us, Hobby Lobby and Mardel Christian & Education shadow anchor the center.