A Baton Rouge investment group has purchased a 21,682-square-foot retail center at 412 Ave. B in Bogalusa for $722,500.
Cobalt Realty purchased the property from Pepe Properties, LLC. Ben Graham and Peter Dumaine, both of SVN | Graham, Langlois & Legendre, facilitated the sale, which closed Sept. 16.
Graham, SVNGLL’s managing director, says the retail center presented a fantastic opportunity for investors due to Bogalusa’s “strong market fundamentals” and the center’s location at the entrance of the International Paper Mill.
“The center was a very attractive investment due to its stable occupancy and strong return provided to the buyer,” Graham says in a statement.“The Bogalusa retail submarket is quite stable right now, offering high occupancy rates and affordable rents for most retailers.”
The shopping center is home to a Family Dollar, a Sears and a CPA office.
