Karl Landreneau, director of commercial sales and leasing for NAI/Latter & Blum, has added three office suites in Central to his personal real estate portfolio.
Landreneau purchased the offices, located at 12628 Hooper Road, for $637,000 through a limited liability company called Land Properties-Hooper Road LLC. The deal closed last week, and the seller was Shaffett Inc.
Landreneau says he purchased the property—which is currently occupied by a real estate firm and a behavioral health company—because it did not flood and offered the return on investment he wanted.
The property, however, isn’t just another addition to Landreneau portfolio.
Landreneau is also an instructor for the CCIM Institute, a commercial real estate professional organization that provides education in investment analysis and site selection. He says he likes to provide his students real-life commercial real estate deals to analyze, and will have his students study the Central deal.
“It’s not just book learning. It’s book plus application in the real world,” he says, adding that the Central deal was solid because the leases for the current tenants are strong and the building is in good condition.
—Alexandria Burris
