The Feil Organization, a New York-based developer, currently owns some of the most accessible property in Metairie, which happens to be the land near Lakeside Mall at the corner of North Causeway Boulevard and Melvil Dewey Drive. The Feil Organization purchased Lakeside Mall in 1968 in a foreclosure sale. This commercial property developer has operated thoroughly and consistently in the Metairie area for more than 50 years.
In addition to the Lakeside Shopping Center, this developer owns nine other Metairie office towers all of which were recently renovated with full construction changes, painting and repairs, and refurbishments. They are located at One, Two, and Three Lakeway; Causeway Plaza I, II and III; 3445 N. Causeway; Metairie Towers; and the Galleria.
This latest investment in Jefferson Parish will be a 12,000 square foot strip mall. The unique thing about this commercial development and construction is that they are willing to build it out with just one “anchor business.” This means that once they have just one lease of one of the buildings in the strip mall, they will build the rest, trusting that they will be able to lease the spaces.
Investments in Metairie have proven to be sound for The Feil Organization, as they are now finishing an new In & Out Urgent Care at the intersection of Causeway and 17th Street. This new retail building is 4,300 square feet. As other firms are converting empty office space in other parts of the country, The Feil Organization is finding demand from local businesses for the retail spaces that they are building.
Another opportunity for development for The Feil Organization in the Greater New Orleans area includes the possibility of construction on undeveloped land on Tulane Avenue in Central City.
In an interview last fall, Jeffrey Feil, 75, said, “I like the community and it is unique to the United States so we have invested here. It’s a tough place to do business between insurance and whatever else is going on but I’ve been here all these years so it’s like my second home.”
