The Baton Rouge Area Foundation and Commercial Properties Realty Trust relocated over the recent holidays to their new offices atop the downtown riverfront building that houses IBM.
BRAF is occupying half of the 24,000 square feet on the building’s ninth floor; CPRT has the other half. Fishman Haygood law firm is on the eighth floor. IBM occupies several lower floors in the building, which was completed last spring.
Though BRAF’s and CPRT’s former building at 402 N. Fourth St. is now vacant, it won’t be for long. As first reported by Daily Report in late December, the Louisiana Commercial Database indicates a sale is pending on the 19,736-square-foot building, which went on the market last July. Realtor Hank Saurage, who has been marketing the building, confirms the property is under contract but declines to provide additional details.
Among the potential buyers that were known to be interested in the building, which was listed for $4.08 million, was the Baton Rouge Area Chamber. In late October, BRAC President and CEO Adam Knapp confirmed negotiations were under way, saying, “it’s no secret we’ve been in discussions. Would love to see it happen. No concrete plans at this time.”
Knapp will not confirm BRAC has a purchase agreement on the building, and CPRT spokeswoman Tina Rance has also been tight-lipped about the potential deal.
—Stephanie Riegel
