Southgate Shopping Center - Grocery Anchored. Lake Charles, Louisiana

Asset type: Neighborhood Center · Location: Lake Charles, Louisiana

Southgate Shopping Center is a 166,325-square-foot, grocery-anchored retail center located at a high-traffic intersection in Lake Charles, Louisiana. Anchored by Market Basket, a dominant regional grocer with over 40 years of tenancy, Southgate benefits from a loyal customer base and consistent foot traffic. The center is currently 90.8% occupied and features a diverse mix of national and regional tenants, including Office Depot, Dollar Tree, Books-A-Million, Oak Street Health, and FedEx Office. Southgate offers significant value-add potential through the lease-up of 14,530 square feet of well-located, second-generation space and below-market in-place rents averaging just $12.11 per square foot. Market leasing assumptions range from $16 to $24 per square foot, presenting an opportunity for meaningful rent growth over time. The property was substantially rebuilt with over $32 million in improvements post-Hurricane Laura, including new roofs, HVAC systems, and upgraded facades, reducing near-term capital expenditure risk. Located less than one mile from the 848,000 SF Prien Lake Mall, Southgate is positioned within a growing trade area supported by a strong employment base, rising household incomes, and regional economic drivers. Offered free and clear of debt, this asset presents a compelling opportunity to acquire a stabilized, income-producing center with upside