Property Name: Lake Sherwood Shopping Center

Address: 4520 South Sherwood Forrest Blvd, Baton Rouge, LA

Total Square Feet: 146,731

Projected Average Annual Cash Flows: 10.25%

Projected IRR: 15.25%

Notable Tenants: Gametime Entertainment, Remington College, Leslie’s Pool Supplies, Supercuts, UFC Gym, Little Caesar’s Pizza, H&R Block

Investment Story:

In 2023, JRE acquired Lake Sherwood Shopping Center through a direct, off-market transaction, leveraging a long-standing relationship with the seller to secure first-look access. The purchase aligned with a value-add strategy, coming with a 40,000 SF vacancy already under a letter of intent with a regional entertainment operator—significantly reducing initial lease-up risk.

To enhance the property’s appeal and support higher rental rates, JRE addressed deferred maintenance and implemented a targeted refresh, including new paint, upgraded landscaping, a new pylon sign, and parking lot repairs. These upgrades aim to boost curb appeal, attract quality tenants, and elevate the center’s overall market position.

The acquisition was completed with participation from 21 investment partners and financed through a private credit facility structured for the value-add plan. JRE is now executing its leasing strategy to maximize occupancy and income, with plans to exit once the asset is fully stabilized and market conditions are favorable.