The majority of the mixed-use property known as DéGagé Condominiums, located on La. 42 about one mile east of its intersection with Airline Highway in Prairieville, sold last week for $1 million.
The original development consisted of 10 condos, infrastructure and enough land to develop nine additional condos, as well as two commercial lots containing about 20,000 square feet each. Boulle Properties LLC, represented by Robert Dupre, bought the property from First Bank and Trust.
According to Michael Stinson, who represented the seller along with Hank Saurage of Saurage Rotenberg Commercial Real Estate, says the sale includes seven of the 10 existing condos, as well as the land for additional condos and commercial developments. Chris Cramer with Ruston Properties represented the buyer as broker.
“The new owner intends to rezone the condominium lots for a townhouse development and may develop the commercial lots with additional multifamily units,” Cramer says.
Appraiser Tom Cook owns Cook Moore and Associates. Reach him at (225) 293-7006 or TCook@cookmoore.com.
