5600 Magazine Street

“You have a long-term agreement with Whole Foods Market, which is owned by Amazon. That means you have a cash flow from one of the strongest tenants you can find,” said commercial real estate appraiser Baldwin Justice with the McEnery Co., who was familiar with the deal but not involved in it. “Investors are willing to pay a premium for that kind of tenant and that kind of lease.”

“It’s probably the strongest demographic in the city in terms of purchasing power and retail,” Justice said. “It’s like sitting on gold. You’re sitting on a great asset forever and in New Orleans, geography is limited.”


Contact Baldwin Justice 504.606.6025 for further details