New York-based real estate investment management firm Briar Meads Capital announced today that it has acquired 23 Louisiana buildings including Industriplex Business Park in Baton Rouge, New Orleans’ James Business Park Portfolio, and some buildings in Jefferson Parish for an undisclosed amount.
Metairie-based Property One will manage the buildings. The Industriplex Business Park consists of Class A warehouse, distribution, and flex office buildings at 11301, 11441, and 11200 Industriplex and 11955-11965 Lakeland Park Blvd. in Baton Rouge.
Significant tenants include Honeywell, Pentair, and ADT. Since the acquisition of the 23 properties, Briar Meads leased 40,000 square feet to new tenants. There are also signed letters of intent for an additional 25,000 square feet of new space across the portfolio. Notable new tenants include Arbon Doors, Swaybox Studios, and Northrup Grunman. Â Â
Briar Meads says it plans to take advantage of the James Business Park’s proximity to the New Orleans airport to accommodate all types of warehouse, distribution, flex, and office tenants.
