Contractor Don Joffrion has acquired a 4.6-acre tract at 6700 Jefferson Highway and plans to develop an office park encompassing more than 70,000 square feet on the site, with build-to-suit spaces of 1,500 to 50,000 square feet. Joffrion, who is both the developer and contractor on the project, purchased the land for $1.4 million from Iberia Bank in a deal that closed Thursday.
The proposed office park, which will be called 6700 Jefferson Office Park Development, is less than a quarter-mile down Jefferson Highway from another new office park that Dantin Bruce Development is creating. That project, which has been renamed The Office at City Farm, would encompass 60,000 square feet and is immediately adjacent to Towne Center. Plans there call for eight or nine buildings of between 5,000 and 6,000 square feet, as well as a 20,000-square-foot building on an out parcel at the front of the property.
Is there room for two new office parks in such close proximity? The tracts are separated by the Center for Advanced Microstructures and Devices research center and the Millennium-Towne Center apartments, all of which originally were part of the same piece of farmland.
Real estate agent Matthew Laborde, who is the exclusive sales and leasing agent for Joffrion’s project, said he thinks demand is sufficient for both projects to be successful.
“The need for office space in this market is all anybody is talking about,” says Laborde, a broker with Beau Box Commercial Real Estate. “It’s very difficult to find any office space of 10,000 square feet or more that is functional.”
Groundbreaking is slated to take place within 30 days on the initial phase of 6700 Jefferson Office Park, which will include two buildings, one of 3,000 square feet and the other 4,000 square feet. One is under contract. The other will be built on spec.
Construction at The Office at City Farm is expected to begin even sooner. Dantin Bruce says it will break ground in the next two weeks on the first build-to-suit structure in the park. See a rendering of the park here. —Stephanie Riegel