Kent Walker with Donnie Jarreau Real Estate Company brokered a 1.77-acre tract on the west side of La. Highway 447 in Walker between Interstate 12 and U.S. Highway 190. The sale closed July 3 for $1 million, or just under $13 per square foot.
The purchaser was Kimble Development of Walker, represented by Mike and Mitch Kimble. The Kimbles plan to build a 14,000-square-foot strip center on the site and currently have a signed lease with Hibbett Sports. Walker says there are letters of intent for three spaces. The seller was Alex Theriot Jr.
Kent Walker also is involved in brokering a site for the Kimbles in Pineville, a 19,700-square-foot retail center across from the Wal-Mart Supercenter that is 80% preleased.
OLOL gets Walker land
In October 2007, Our Lady of the Lake Regional Medical Center purchased 191 acres in the southwest quadrant of the Interstate 12 interchange with La. Highway 447 for about $9.6 million.
Three months ago, OLOL acquired an additional 44.3 acres that, according to a hospital spokesperson, was assembled in nine transactions for $10.1 million. Four of the tracts were improved with residential properties, three were improved with commercial-use buildings and two were vacant.
OLOL made the acquisition to provide better access to its original purchase. The additional acres also will allow for a buffer zone and provide improved visibility from La. 447.
The hospital analyzes its purchases over very long terms. It typically looks for sites that will be prime locations into the next 50 years. The Interstate 12 corridor between Baton Rouge and Hammond has significant future growth potential, which prompted OLOL’s acquisition.
Office building going up
The EcoScience Resource Group purchased 3.24 acres on American Way just north of Coursey Boulevard for $1.1 million. According to George Kurz of Kurz and Hebert Commercial Real Estate, who brokered the transaction, EcoScience has started construction of a 20,000-square-foot office building and will occupy the second floor. The first floor will be made available for sale or lease.
Kurz says the acquisition, at $8 per square foot, provides excellent access to Coursey and South Sherwood Forest boulevards from American Way.
Perkins Road site sells
A 25,725-square-foot residential site on the south side of Perkins Road just east of Essen Lane has sold for $437,155, or about $17 per square foot. The property, which adjoins the east side of a Burger King location, was brokered by Troy Daigle at Donnie Jarreau Real Estate Company and Kurz.
Kurz says a freestanding retail building will be constructed on the site after the single-family residence has been removed.
Select Building System buys land
Select Building Systems, the parent company of Big Eazy Development, purchased a 1.92-acre site on La. Highway 30, just south of the Tanger Outlet Center in Gonzales. The sale price was $425,000, or just over $5 per square foot.
Jonathan Starns with Donnie Jarreau Real Estate Company listed the property. The seller was Sherwood Pointe, which had purchased the property a year and a half ago for about $3 per square foot, Starns says. Austin Earhart of Beau Box Commercial Real Estate represented the buyer.
Earhart says Select Building Systems recognized a growing light industrial construction market in the Ascension Parish area and decided to purchase the site for development of a branch office.
Comments
Post a comment
(Requires free registration.)