The last vacant office space in the Hillside Oaks Square office park, located near the intersection of Jefferson Highway and Highland Road, sold for $288,320 to a Medicaid billing company that processes claims for over half of the state’s public school districts.
Gaines Garrett with Beau Box Real Estate represented both the buyer and seller, Hillside Oaks Square LLC; its registered agent and officer are Michael Powers and Scott Sanchez. The buyer, Electronic Information Systems LLC, is managed by Nelson and Gregory Bergeron, who own the billing company EIS MedClaims. They paid about $160 per square-foot for the 1,802-square-foot space, addressed at 16851 Old Jefferson Hwy.
Garrett says Beau Box has also helped the office park developer, Discovery Real Estate and Development, also owned by Powers and Sanchez, sell the office park’s other buildings, each of which includes from two to four suites and have been slowly built out since 2007.
There are 11 buildings in the park in total, all occupied and either owned outright by their tenants or under lease, as well as one pad. Garrett says the pad is no longer owned by the developer. The owners do have plans to build it out, he said, but could not provide further details.
EIS MedClaims will move into its suite by the end of November from the offices it leases at 11628 S. Choctaw Dr.
Bergeron says the new office is a better fit because it’s in a more professional setting and located in an area that’s safer for employees. And because the company does such a large percentage of its business with the state, Bergeron says, it was essential that it buy in an area where it will be easy to sell.
“With a stroke of a pen we could have half of our business wiped out,” he says, referring to potential changes in the state’s budget that could have a major impact on the company’s bottom line, “and it’s more attractive to sell in this area than in north Baton Rouge.” —Kelly Connelly