Shreveport company buys medical office building off Essen Lane for $4 million

Shreveport company buys medical office building off Essen Lane for $4 million




A 15,000-square-foot medical office building at 7703 Picardy Ave., off of Essen Lane, has sold for $4 million, according to land records filed with the East Baton Rouge Parish Clerk of Court today. Cobalt Realty LLC, represented by Dr. Andre Bruni, was the seller in the deal, while Shreveport-based C.W. Lane Co. purchased the property as CWLCO Picardy I LLC. Cobalt Realty bought the office building speculatively several years ago, says Ty Gose, of NAI/Latter & Blum Commercial Real Estate, who represents Cobalt in the deal. He says Cobalt "wanted to lease it out and sell it, like [it has] done." The new owners also purchased the property as an investment, Gose adds, and will continue to lease the office space to DaVita Dialysis, the building's current tenant. Gose says DaVita has continuously taken care of all necessary updates to the space, so C.W. Lane has no immediate plans for renovations. —Rachel Alexander



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