KEY TAKEAWAYS: Mandeville Marketplace sold to a Louisiana private investor for $8.09 million. The 62,324-square-foot retail center sits on six acres near U.S. Highway 190. The fully occupied property has five tenants, including Crunch Fitness and Altitude Trampoline Park. SRS Real Estate Partn ers represented the seller, while Maestri Murrell represented the buyer in the 1031 exchange.   A fully occupied retail center in Mandeville has sold for $8.09 million to a Louisiana private investor, according to SRS Real Estate Partners. Mandeville Marketplace, a 62,324-square-foot shopping center at 619 N. Causeway Blvd., sits on six acres near U.S. Highway 190. The property has five tenants, including anchor tenants Altitude Trampoline Park and Crunch Fitness. SRS Capital Markets Vice Presidents Sabrina Sapienza and Chad Lieber represented the seller, a Louisiana-based owner. The buyer, also based in Louisiana, was represented by Ben Stalter of Maestri Murrell. SRS said the buyer was completing a 1031 exchange, a transaction that generally allows real estate investors to defer capital gains taxes by reinvesting proceeds from the sale of one investment property into another qualifying property. The transaction faced several delays during the escrow period because of financing challenges involving the buyer’s property being sold as part of the exchange, Sapienza said. “This deal presented multiple challenges during the escrow period including several extensions driven by a challenging debt environment on the buyer’s down-leg property. During that time, we worked closely with Ben Stalter and his client to continue to make the transaction process and seamless as possible,” Sapienza said. The seller had acquired Mandeville Marketplace after the departure of a previous tenant and subsequently added Altitude Trampoline Park and Crunch Fitness as anchors, according to SRS. “The seller originally acquired the property following the departure of a previous tenant. By successfully securing two strong anchor tenants, they revitalized the center, bringing new energy and renewed momentum to the Mandeville area,” Lieber said. Built in 1988, Mandeville Marketplace includes about 200 parking spaces. The center is located in a retail corridor that includes HomeGoods, Ross Dress for Less, PetSmart, TJ Maxx and Target. SRS said its Capital Markets division has completed more than 400 transactions totaling more than $1.6 billion so far this year. The firm has more than 900 properties on the market with a combined value exceeding $4.3 billion. Dallas-based SRS Real Estate Partners, founded in 1986, provides commercial real estate services across the retail, industrial and capital markets sectors. The company operates 29 offices nationwide. ...read more read less