Clark Heebe, who owns Broadmoor Village Shopping Center, has purchased the roughly 21 acres that the center is situated on at Florida Boulevard, near the Airline Highway intersection, for $1 million.
Though he has owned the buildings on the land for years, Heebe until now has been leasing the land under a long-term deal that wasn’t set to expire for another 36 years.
“It gives us a lot of flexibility to create additional outparcels and make some other improvements that we weren’t able to do under our land lease,” Hebee says.
The seller of the land was the Sharp Irrevocable Short Term Trust Number Two, represented by trustee Jane Sharp Hamilton, according to records filed the East Baton Rouge Clerk of Court. Heebe bought it as manager of Broadmoor Village Shopping Center Re-Development LLC.
Hebee says owning the land should help him land tenants for the roughly 80,000-square-foot shopping center, which currently has three vacancies.
“We actually lost a deal to land an AutoZone because they wanted to own the land the store would be located on and we couldn’t offer them that,” he says.
Hi Nabor grocery is preparing to open in the shopping center next Thursday, Hebee says. It will occupy about 23,000 square feet. The center’s other anchor tenant is Planet Fitness, which occupies a 28,000-square-foot space. Other tenants include Family Dollar, and a Capital One Bank branch is on an outparcel at the center.
A roughly 42,000-square-foot building neighboring the closed Broadmoor Theatre on the 21 acre site was recently demolished, and the former theatre is also expected to be demolished sometime next year. —Steve Sanoski
