Bob Dean is putting some of his real estate holdings, including Dean Tower and the Commerce Building, on the auction block. Dean says he is working with Williams & Williams, an international firm, to sell the properties during an auction in mid-November. He says the time is right to sell, because the Baton Rouge real estate market is one of the best in the U.S. “This will bring in people who [wouldn’t] normally come into the Baton Rouge area,” says Dean. Williams & Williams holds more than 1,000 auctions a month and the firm aggressively markets its upcoming sales in newspaper and online advertising. “They spent $1.6 billion in advertising in the first six months of this year alone,” Dean says.
The 180,000-square-foot Commerce Building on Laurel Street will be up for auction, along with Dean Tower, a 83,000-square-foot office building on Florida Boulevard, and an eight story building at 339 Florida. Those buildings could be converted into lofts or assisted living facilities for the elderly, Dean says. Over the years, several developers have considered plans for the Commerce Building, discussing everything from a jazz nightclub to condos and apartments. Two warehouses on Choctaw Street are also up for auction, they’re near Exxon Mobil and have 60,000 square feet of space.
Dean will put 55 acres of undeveloped land at Plank Road and Main Street in Zachary on the market, along with a 55,000 square foot tract bordered by 8th, 9th and Laurel streets. “That land at Plank and Main is perfect for commercial development,” he says. Three Natchez properties will be listed including a hotel and a bed and breakfast. Dean says he may still add two or three properties before the auction date. Several of the properties will be sold at absolute auction, meaning they’ll change hands regardless of price. The auction will be held at the Hilton Baton Rouge Capitol Center Hotel, but Dean says remote bids will be accepted at the sites of the properties that are being sold, as well as through the phone and Internet. “This will bring a huge audience,” he says.—Timothy Boone
