Business Services Industry
A bidding war is under way for Mall of Louisiana
Real Estate Alert, March 3, 2004
A bidding war is under way for Mall of Louisiana. Those in the running include General Growth Properties, Simon Property and CBL & Associates. One of the bidders just increased its offer for the 1.3 million-square-foot Baton Rouge property to $255 million--a price that would produce a paltry 5.5% initial annual yield.
The mall's attractive sales and the scarcity of available high-end properties caused bidding to intensify, in the past week. Lazard Freres is marketing the property for Jim Wilson & Associates and a private investor in the United Arab Emirates.
COPYRIGHT 2004 Harrison Scott Publications, Inc.
COPYRIGHT 2008 Gale, Cengage Learning
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