A group of investors has purchased the Rotolo’s Pizzeria building at 5050 Government St., adjacent to Caddo Street, and is leasing the building back to the restaurant for use.
G Street Partners LLC—an investor group that includes Saurage Rotenberg Commercial Real Estate broker Matthew Shirley—bought the building for $625,000 in a deal that closed on Friday. The seller is listed as Rotolo’s Holding Company LLC. Steve Legendre of SVN | Graham, Langlois & Legendre represented the seller.
Shirley says the investor group is newly formed. The partners bought the building because they wanted to have an ownership position along Government Street, and Mitch Rotolo agreed to a lease-back, he says.
The building is simply an investment, he adds.
Rotolo says the lease-back “just made sense.”
“It was just the right opportunity for us at the time,” he says. “There’s no difference.”
A groundbreaking ceremony was held in November for a new Rotolo’s-anchored retail development at the corner of Ben Hur Road and Burbank Drive. The 4,500-square-foot pizzeria will be the fourth Rotolo’s location in Baton Rouge and will function as a prototype for the chain’s restaurants. Rotolos has 31 locations across Louisiana, Texas, Alabama and Florida.