Orlando, Florida-based National Retail Properties LP has purchased two tracts of land on Government Street to be the future site of a Captain D’s fast-casual seafood restaurant.
The restaurant, which has already received approval from the city-parish Planning Commission, will be located at 5131 Government St., near South Foster Drive.
National Retail Properties paid $880,000, or $13.86 per square foot, for the tracts totaling 1.45 acres. The tracts were purchased from the 5131 Government St., a limited liability company managed by Christopher Rinaudo.
Construction on the restaurant is expected to start soon.
Mark Hebert, agent/broker at Kurz & Hebert, says the deal closed on Dec. 22., though the paperwork documenting the transaction was not filed with the East Baton Rouge Clerk of Court until Thursday. Hebert represented the seller.
In April 2015, Nashville-based Captain D’s announced plans to re-enter the greater Baton Rouge market, with the intention of establishing the first restaurant with a year or so.
But the company’s re-entry into the market hasn’t come without some opposition. Some Mid City residents expressed concern about the construction of another fast food restaurant near the crowded South Foster Drive and Government Street intersection. The Planning Commission had already approved the plan for the restaurant and approved the landscaping in November.