Eleven lots in the Cajun Drive Industrial Park—a Port Allen subdivision geared toward industrial use located on the south side of U.S. 190, just west of North Lobdell Highway—were sold last week to W Gravois LLC, represented by Walter L Gravois. The sale closed for $395,000 or about $35,900 per lot, and the seller was Loup Development, represented by Raymond R. Loup.
The industrial park is zoned for industrial development and has all subdivision improvements in place, including three-phase electrical service, which is something all heavy industrial users need. Six lots within the development have previously been sold, and one lot that fronts U.S. 190 has been improved with a building that houses Bertinot’s Marble & Granite.
Brent Struthers with Beau Box Commercial Real Estate brokered the deal for the 11 lots, which have a combined total area of around 9.07 acres, meaning the price per square foot works out to about $1.
“The purchaser recognized the increasing demand for industrial use properties in this corridor and realized that the purchase of improved lots for $1 per square foot was an excellent deal,” says Struthers.
Appraiser Tom Cook owns Cook Moore and Associates. Reach him at (225) 293-7006 or tcook@cookmoore.com.
