By Lisa Addison

laddison@americanpress.com

The shopping center that houses several stores at 3407 Derek Drive is set to go on the block at a sheriff’s sale on Wednesday in Lake Charles, with a minimum bid of $10 million although the sale aims to attract a $15 million bid.

Attorney Bradley Drell of Alexandria, whose firm Gold Weems is overseeing the sale, said “none of the tenants will be kicked out.”

On the contrary, Drell said the firm has retained Sterling Properties to manage the tenants who are there now as well as those who may be there in the foreseeable future.

“We’d like to see the center get spruced up and get it back in shipshape condition,” Drell said.

Stores in the center at this time, including ones that were damaged in the hurricanes, are Michael’s, Bath & Body Works, Rue 21 and Old Navy.

Drell said this sale does not include the nearby properties where Academy or Conn’s are located.

Drell said if the sale brings at least $10 million, McCreif Subreit LLC will take title to the property.

The attorney said it’s a sign of the times all over the country that shopping centers such as this one have experienced financial difficulties.

“It’s just important for people to know that we will not be putting anyone out and the tenants will be able to continue exactly where they are,” Drell said.

Kimble Development owns the property. The real estate developer had about 25 commercial sites across Louisiana in its portfolio but had begun selling some of the properties after it filed for Chapter 11 bankruptcy protection late last year.

More than a dozen properties, including several in Baton Rouge as well as one in Lafayette, are also in receivership after the company defaulted on its mortgage, which means some of those properties may also be sold.