A New Orleans real estate firm has put nearly 26 acres of land at Burbank and West Lee drives on the market. Seph Dupuy says the land has a variety of potential uses, including retail, residential and even churches. The land is across from the retail/residential development that Victory Real Estate Investments plans to build. “It’s a great piece of property close to LSU,” he says. The land has been cut into four parcels, two of which are at the corner of Burbank and West Lee. One of those parcels is three acres and has an asking price of $2.5 million. The other, which has frontage along West Lee, is 1.2 acres and has an asking price of $1.75 million. National retailers, including pharmacy chains, are reportedly looking at the corner sites. An adjoining 15-acre parcel along Burbank has a list price of $3.26 million; seven acres are developable because of a drainage canal running through the land. The final tract, next to the Winn Dixie shopping center, is 7.8 acres with an asking price of $1.75 million. Four acres of that land is developable.
While the Winn-Dixie shopping center and some student apartments have been open at Burbank and Lee for years, it’s taken a while for other developments to happen. “We’re hoping some people take a risk and build some more retail there,” he says. “I’m optimistic about it.”—Timothy Boone
