Hakim Family Acquires More Downtown Office Space in New Orleans
What happened
The Hakim family has expanded its presence in the New Orleans office market. The family's North American Land Development recently purchased two additional skyscrapers on Poydras Street, adding nearly 1.5 million square feet of downtown office space to its portfolio. The family previously acquired the former Amoco building in 2013, which has since been occupied by more than 80% of its space.
From nola.com
Why it matters
The investment highlights continued commercial real estate activity in New Orleans. The family's involvement, which began with turning around a high-rise building in bankruptcy, demonstrates ongoing capital commitment to the city's downtown office sector.
From nola.com
Who's involved
- HakimThe family that invested in the New Orleans office market
- New OrleansThe location where the office market investment took place
Possible ripples
Who this could reach next, traced step by step from the reporting. Possibilities worth considering, not forecasts.- Hakim family investment may boost Orleans Parish's office marketHakim family investment may boost Orleans Parish's downtown development and tax base.Possible
- Hakim family investment could stabilize Louisiana's office marketHakim family investment may stabilize Louisiana's commercial real estate market.Possible
- Hakim family investment may require city council review for office propertiesHakim family investment may require city council review for office propertiesPossible
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The entities involved
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Hakim
Algerian sculptor
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New Orleans
largest city of the state of Louisiana, United States