The Shops at Canal Place Continues to Attract Top Retailers and Customers as the Preeminent Luxury Urban Shopping Destination in the Gulf South Region

New Orleans is in the midst of a renaissance, and continues to build on its international reputation as a world class tourist destination. The recipient of numerous awards and accolades, New Orleans was named in 2015 and through the first quarter of 2016 as one of the “Best Big Cities in the U.S.” by Condé Nast Traveler, one of the “10 Best Food Cities in America” by The Washington Post, the number one “Best Family Getaway in America” by TripAdvisor, and one of “America’s Favorite Cities” as well as one of “The Best Cities in North America” by Travel + Leisure.

Visitor spending in 2015 was more than $7 billion, the highest level on record, and Louis Armstrong New Orleans International Airport served an all time, record breaking 10.7 million passengers in 2015, an increase of more than 9 percent over 2014. Downtown New Orleans now has two major medical centers representing $2 billion in investment. Downtown Class A office occupancy is approximately 90 percent, and the average annual household income of the Downtown resident is more than $72,000. Bouncing back from the aftermath of Hurricane Katrina, New Orleans in now recognized as one of the strongest retail markets in the nation.

At the epicenter of this renaissance is The Shops at Canal Place, the preeminent luxury urban shopping and entertainment destination in the Gulf South region, acquired earlier this year by O’Connor Capital Partners.Improvements to the property are underway, as the tenancy continues to evolve,and the 96 percent occupied, 260,000 square-foot shopping center continues to attract the most selective retailers in the world, with sales volumes and trends that are among the best in the country.

“The Shops at Canal Place is in a prime tourist destination with millions of tourists visiting annually, and maintains a dominant position in the market based upon the success and reputation that has been achieved with an unmatched collection of luxury retailers,” said William Q. O’Connor, CEO of O’Connor Capital Partners. The shopping center is located at the foot of Canal Street at the Mississippi Riverfront, directly between two of the most significant traffic generators in the Gulf South; the world famous historic French Quarter, and Harrah’s New Orleans Casino.

The Shops at Canal Place is anchored by one of the most productive Saks Fifth Avenue stores in the world, and the only Saks Fifth Avenue within a 350-mile radius. The center also features an array of best-in-class luxury retailers and nationally recognized tenants such as Tiffany & Co., Armani Collezioni, L’Occitane, Michael Kors, lululemon, Anthropolgie, Brooks Brothers, and J. Crew. The premier shopping destination also offers a luxury dine-in theatre, the celebrated nine-screen, Theatres at Canal Place.

The property is located at the edge of the Central Business District, the Museum & Arts / Warehouse District, and the Superdome, and is just steps from the majority of the city’s hotels and convention center.

Peter Bergner and Kate Gilbert of O’Connor Capital Partners’ Palm Beach Office are responsible for the leasing of the property.

About O’Connor Capital Partners

Founded in 1983, O’Connor Capital Partners is an institutional real estate investment, management, and development firm based in New York City and run by CEO Bill O’Connor. The firm pursues acquisitions, developments and residential conversions on behalf of its institutional funds, separate accounts, and own account. O’Connor primarily targets retail and residential opportunities throughout the United States and Mexico. Since inception, O’Connor has acquired or developed over $30 billion of property, including over 55 million square feet of retail space and over 30,000 residential units globally.