Cook: Holiday Inn buys land for Denham Springs location
A 2.13-acre tract at the corner of Shady Park Drive and South Range Avenue in Denham Springs has been purchased by an LLC doing business as Holiday Inn for $900,000, or $9.7 per square foot. A new hotel will be built on the land, which is located on the east side of South Range Avenue, south of Bass Pro Boulevard and across the street from Backyard Burger. Trey Williams with NAI/Latter & Blum represented the purchaser, while the seller was represented by J.W. Day with MA Allen Real Estate. Williams says the property was put under contract over two years ago, and the seller continued to put up funds to extend the purchase option. The sale closed on March 9.
—A 3.86-acre tract at 12737 Jefferson Highway, near the intersection of Old Jefferson Highway and Pecue Lane, has sold for $410,000. That calculates to about $105,000 per acre, or $2.45 per square foot. The purchaser was Raymond, Broussard, and Gremillion LLC, represented by Bill Gremillion at NAI/Latter & Blum. The seller was the Norman Whitehead Family, represented by Troy Daigle at Donnie Jarreau Companies. Daigle says the new owner has no immediate plans for the property. The sale closed on March 15.
(Appraiser Tom Cook owns Cook Moore and Associates. Reach him at 293-7006 or [email protected].)