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,” Dean says.
The 180,000-square-foot Commerce Building on Laurel Street will be up for auction, along with Dean Tower, an 83,000-square-foot office building on Florida Boulevard, and an eight-story building at 339 Florida Street. Those buildings could be converted into lofts or assisted living facilities for the elderly, Dean says. Two warehouses on Choctaw Street are also up for auction; the warehouses are near the ExxonMobil refinery 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 might 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. Read the rest of Real Estate Weekly here.—Timothy Boone
