Biloxi, Mississippi – The development partnership of NLD Biloxi, LLC recently sold Shoppes at Beauvoir, a 6,300 square foot strip center, for $1.85 million. A former Blockbuster Video location on the corner of Beauvoir and Pass Roads, the building was redeveloped in 2013 and is now home to Firehouse Subs, an AT&T Authorized retailer, and The UPS Store.
The buyer, an undisclosed Louisiana investment company, was represented by Christopher K. Dozier of Retail Specialists, Inc. The sellers were represented by co-owner and developer, Doug Molyneaux, CCIM, of Catalyst Retail Developers.
“This re-development project was the vision of Doug Molyneaux, who actively negotiated the acquisition contract, negotiated the tenant leases and lease extensions, and led the marketing effort in the sale,” said co-owner and developer, Brooks Holstein of COMVEST Properties, LLC. “An aggressively structured and priced loan facility with Community Bank Coast, and Senior Vice President, Darney J Derouen, allowed the ownership to develop an appealing exterior elevation which helped attract an excellent mix of national franchise tenants.”