729 Milam St, Shreveport, LA 71101
Asking Price: $325,000
KW Commercial is pleased to offer for sale the historic Creswell Hotel and adjacent Hamilton Residence, a mixed-use residential/office flats opportunity. The properties are being offered as a package or individually. Creswell Hotel is prominently located within the Shreveport Common Cultural District, a nationally recognized and award-winning cultural district in downtown Shreveport. Overlooking the Central Artstation, operated by Shreveport Regional Arts Council (SRAC) this +/- 21,000 SF historic redevelopment is perfectly positioned to capitalize on the growing demand for artist studios and current demand for market rate, multi-family in downtown. According to a third-party market survey commissioned by Shreveport Common, the demand for artist studios is in excess of 200 units. Per the Downtown Development Authority, demand for market rate multi-family remains strong. Pre-leased before opening roughly four years ago, the Sears Building maintains near 100% occupancy. Also, The Standard has achieved 90% occupancy in less than a year. A Creswell Hotel mixed-use redevelopment is poised to capture both the artist studios and market rate multi0family demand. In addition, there are several street-level retail spaces totaling +/- 4200 SF (one space currently leased). The retail component could draw customers from the building, as well as from the general area. Several doors down on Milam, the historic Uneeda Biscuit Building will soon be developed into residential apartments.
- Total Sq. Ft. - 21000 sq. ft.
Trenton Siskron ( email ) • KW Commercial NWLA