Though initially scheduled for today, an online auction for the Bon Carre Business Center has been pushed back to the first week in November, according to the property’s listing.
Ten-X Commercial, a California-based company, is conducting the auction, now slated to take place Nov. 5-7. Participation requires a $50,000 deposit.
Broker Bill Sanders of Beau Box Commercial Real Estate, who is helping market the property, says the reason for the delay is a “logistics thing intended to give everyone who is interested in the property an opportunity to tour it in person.”
Sanders says there has been a lot of interest in the property and that some potential bidders have already toured it, while others still want to do so.
As first reported by Daily Report in September, the minimum bid for the former shopping center-turned-business park has been set at $12 million—a fraction of the $36.1 million mortgage the center’s former owner, Commercial Properties Realty Trust, defaulted on in 2017 after occupancy rates fell and a 10-year abatement that had capped the Bon Carre property tax bill at $80,000 a year expired. The low starting bid is likely intended as a way to generate interest in the 713,000-square-foot business park. In April, lenders “bought back” the business park in a courthouse auction.
Formerly the site of the Bon Marche mall, Bon Carre is a technology-focused business center that houses tenants such as the Louisiana Technology Park and data center Venyu.
