Louisiana center changes hands

Kimco Realty has sold the Ambassador Plaza neighborhood center in Lafayette, Louisiana, to Westwood AC Properties for $5.3 million.



According to Transwestern VP Fred Victor, who brokered the deal for Kimco, the property benefits greatly from being shadow-anchored by an Albertson’s grocery store. Ambassador Plaza boasts a wide variety of dining options, including Subway, Little Caesars, and Fruiti Smoothie.



“The Ambassador Plaza transaction is a perfect example of a well-capitalized private investor acquiring a high-quality asset in a market that has become non-strategic for a REIT,” said Victor.

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