American Tire Distributors closes on land, new BR warehouse
Dave Johnson, a controller at Scannell Properties, says the Indianapolis-based build-to-suit developer recently completed a 125,000-square-foot office warehouse for American Tire Distributors on a 12-acre site near Airline Highway and Bayou Manchac, which led to its sale of the building and property to ATD on March 31. American Realty Capital Properties—a large national real estate acquisition firm based in Phoenix, Ariz.— was the buyer in the $9.3 million deal, which was recorded by the local Clerk of Court's Office on Friday. The property is located in the growing Pecan Creek subdivision near Prairieville between Jefferson and Airline highways. Scannell purchased the vacant tract from Airline-Manchac LLC last May for $1.1 million to develop a build-to-suit building for ATD. According to Johnson, ATD—which formerly occupied approximately 65,000 square feet in a shared space on Exchequer Drive off of Industriplex Boulevard—wanted to expand and occupy its own facility. The new warehouse includes 4,700 square feet of office space, Johnson says. In a Daily Report column published last June, Tom Cook reported that the warehouse would be a tilt-wall concrete construction and have an eave of 30 feet. American Realty Capital Properties purchased the property as an investment, Johnson says, under Cole ID Baton Rouge LA LLC. —Rachel Alexander
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