Gayle Benson acquires BankPlus Tower in downtown New Orleans

Listen to this article KEY TAKEAWAYS: Gayle Benson acquired the 36-story BankPlus Tower at 909 Poydras St. The 545,000-square-foot Class A office tower is 79% leased and has 520 parking spaces. Financial terms were not disclosed; Corporate Realty will manage and lease the property. The deal expands Benson's downtown portfolio, which includes Benson Tower, 1515 Poydras St. and the Hyatt Regency New Orleans. Gayle Benson has acquired BankPlus Tower at 909 Poydras St., adding another major downtown New Orleans office property to her real estate portfolio. Benson announced September 8 that she completed the acquisition of the 36-story, Class A office tower. The approximately 545,000-square-foot building is 79% leased and includes 520 parking spaces. Financial terms of the transaction were not disclosed. Corporate Realty will manage and lease the property. The acquisition expands Benson's holdings along the Poydras Street corridor, where she owns several office, hospitality and commercial properties near the Caesars Superdome and Smoothie King Center. '909 Poydras is a top-of-the-market Class A office building that has consistently demonstrated its quality and value in the New Orleans market,' Benson said. 'It has exceptional bricks and mortar, a great rent roll and a strong history of occupancy. We want to build on that success, maintain the building at the highest level and make it even better.' The tower was developed by New Orleans real estate developer Joe Canizaro for Louisiana Land & Exploration Co. and opened in 1987. Benson said the acquisition reflects her long-term strategy of investing in downtown New Orleans and the broader region. Hancock Whitney provided financing for the transaction, according to the announcement. 'My commitment to New Orleans, our state and our region has never been about one building or one project,' Benson said. 'It is about our city and continuing to invest in its future. Whether it is acquiring buildings and bringing them back into commerce, helping bring new businesses to New Orleans or hosting major sporting events, it all comes back to the same thing: commitment and investment.' The purchase follows Benson's 2025 acquisition of 1515 Poydras St., another Class A office tower near the Caesars Superdome, Smoothie King Center and Benson Tower. Benson's downtown real estate investments date to 2009, when she acquired the vacant, Hurricane Katrina-damaged New Orleans Centre development, which included Dominion Tower, the roughly 1 million-square-foot New Orleans Centre Mall and a 2,000-space parking garage. Dominion Tower was subsequently renovated into the 540,000-square-foot Benson Tower, while the former Lord & Taylor space became the 115,000-square-foot Benson Tower Annex. Both properties are fully leased, according to Benson's announcement. The former mall site was redeveloped as Champions Square, which hosts Saints-related activities, festivals, concerts and other events. Benson's other investments in the area include the Mercedes-Benz Van Center of New Orleans, which opened in 2022, and the 1,100-room Hyatt Regency New Orleans adjacent to Champions Square. Michael J. Siegel, president of Corporate Realty, said 909 Poydras has long been considered one of the city's premier office properties because of its construction, finishes, tenant base and location. 'Gayle Benson's acquisition of this premier property not only confirms but enhances that desirability,' Siegel said. 'Gayle Benson and the Corporate Realty team will bring renewed attention to detail and a commitment to providing tenants with the best possible office-building experience.'