Lamar begins first phase of renovations for potential new office

Lamar Advertising has started the first phase of renovations for what could be its new headquarters building. Work began on the Corporate Boulevard building, which had been occupied by Chase bank, in January. Ricky Raven, Lamar’s vice president for real estate, says the initial work involves bringing the building up to code. Lamar is about three weeks away from opening bids for the second phase of the project, which comprises the renovations to prepare the building for occupancy. The renovations are contingent on an insurance settlement Lamar is receiving for the Chase building, which was heavily damaged by Hurricane Gustav. If the bid prices are too far out of line with the insurance settlement, then the work won’t happen, Raven says. If the price estimates for the work come in at the right amount, then it’s Lamar’s hope that renovations to the 110,000- square-foot building will conclude by the end of the year.—Timothy Boone