The owners of the Mall of Louisiana have recently put the mall on the market to be sold.
Todd Denton, general manager of the Mall of Louisiana on Bluebonnet Boulevard, said it has been owned and operated by Jim Wilson & Associates since the company developed the shopping center in 1997.
Kay Yarbrough, director of marketing for Jim Wilson & Associates, said it is unlikely that a new owner will make major changes to the mall because of the success which it has experienced. The future owner will make those decisions, and therefore are yet to be seen.
Brad Downs, owner of Sweet Treats from Heaven, located in the mall, said merchants received a letter notifying them of the sale. He said the letter stated the stores in the mall should not be affected.
Downs said that he would like to see a new owner attract bigger stores to the mall, which would increase his shop’s traffic. Downs said he hopes his business will benefit from the sale.
According to Yarbrough, the Mall of Louisiana currently includes five anchor stores and more than 150 specialty retailers.
Denton said the mall has done very well since it first opened, and has led the owners to the decision to sell. Denton said that the real-estate market in Baton Rouge is a profitable one.
The mall is the only property the company owns in Louisiana, but Jim Wilson & Associates own and manage several other properties in the southeastern United States, Yarbrough said.
Among these include Riverchase Galleria in Birmingham, Ala. and Shoppes at EastChase in Montgomery, Ala. The company also manages the Edgewater Mall in Biloxi, Miss.
Denton said the mall has been up for sale for a few months. The owners are not asking for a specific price, and Denton said that this is left up to those who are making offers.
Yarbrough said marketing packages have been sent to major developers who possess the buying power necessary to gain the property. The sale is a negotiating process in which interested buyers will make offers to the owners, Yarbrough said.
Jim Wilson & Associates do not currently have any plans to develop other properties in Baton Rouge, but future projects in Louisiana are not out of the question, Yarbrough said. Louisiana is growing, and the company will keep their options open.