The Feil Organization Inks Renewal at New Orleans Office Property

The Galleria. Image courtesy of CommercialEge

The Feil Organization has inked a 20,984-square-foot lease renewal at The Galleria, a Class A office property in Metairie, La. Louisiana Citizens Property Insurance Corp. will remain on the seventh floor of the 466,110-square-foot office building for another 125 months.

Corporate Realty’s Sales & Leasing Associate Scott Graf negotiated on behalf of the landlord, while SRSA Commercial Real Estate’s Director of Office Leasing Sandra Corrigan worked on behalf of the tenant. Other companies at the property include The Mir Group, Willamette Wealth Partners, Biloxi Marsh Lands Corp. and Downey Engineering Corp., among others, according to CommercialEdge.

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Built in 1998, the 22-story property is located at 1 Galleria Blvd. and features 26,000-square-foot floor plates, 13 passenger elevators, 2,000 square feet of retail space and1,804 covered parking spaces, CommercialEdge shows. The Feil Organization purchased the asset in 2005 from Columbus Properties for $57 million, according to the same data provider.

Situated on a 4-acre lot, the building is close to multiple bus stations and to interstates 10 and 610, 8 miles from New Orleans, 9 miles from Louis Armstrong New Orleans International Airport and within 17 miles of Belle Chasse, La.

Earlier this year, The Feil Organization secured another lease deal at one of its Manhattan properties. The Real Estate Board of New York extended its commitment for more than 10 years at 570 Lexington Ave. in Midtown. The company has been a tenant at the 50-story tower since 1998.