The Baton Rouge Area Foundation and Commercial Properties Realty Trust have apparently found a buyer for their three-story office building at 402 N. Fourth St.
According to the Louisiana Commercial Database, a sale is pending on the 19,736-square foot building, which currently houses the offices of BRAF and CPRT. Realtor Hank Saurage, who has been marketing the building, confirms the property is under contract, though he declines to provide additional details.
BRAF and CPRT put the 12-year-old building on the market in July, and subsequently announced they would be relocating their shared offices to the top floor of the new downtown riverfront building that houses IBM.
Among the potential buyers that were 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 his organization’s interest in the property, saying, “it’s no secret we’ve been in discussions. Would love to see it happen. No concrete plans at this time.”
Knapp is out of town today and would not comment on whether BRAC has a purchase agreement on the building. CPRT spokeswoman Tina Rance also was tight-lipped about the potential deal, saying, “We’ve had conversations with several interested parties so I don’t know who the purchaser is.”
—Stephanie Riegel
