A limited liability company has paid $625,000 for a roughly 2.9-acre property at the intersection of Florida Boulevard and Sharp Lane that’s home to a shopping center and a standalone Po-Boy Express.
The deal, which closed today, also includes two parcels of vacant land—one adjacent to the shopping center on Sharp Lane and the other at the corner of Florida and Sharp.
The seller is Cefalu Investment Company LLC, represented by Justin Langlois of SVN | Graham, Langlois & Legendre. The buyer is Ismail Investments LLC, represented by Foster Murphy with SVN | Gulf Partners out of New Orleans.
“Ismail Investments is a company owned by the guys with Po-Boy Express in Baton Rouge. They have occupied the restaurant for a very long time and ultimately decided to purchase the property,” Langlois says.
The shopping center measures approximately 9,400 square feet and is occupied by Louisiana Laundry Center, another restaurant, Side Stop Convenience Store and a cell phone store, Langlois says. Po-Boy Express occupies 1,700 square feet on the property.
“The shopping center was built in the 1960s and was maintained by the family of the original property owners until the recent sale. The property did not flood,” Langlois says.
The intersection is heavily trafficked, with more than 40,000 vehicles crossing it per day, Langlois says.
—Alexandria Burris
