Company will stay in current location: The Conn’s Appliance building on Airline Highway has been sold to a group of Baton Rouge investors for $1.9 million. V&R Airline Partners, a business made up of Ralph Paul Voorhies Jr. and Edward L. Rotenberg bought the building from Conn’s in a deal that closed Friday. Texas-based Conn’s has a long-term lease on the 49,000-square-foot building and plans to continue selling electronics and appliances in the store.
Deal of the Millennium: The Millennium Towne Center, an upscale Jefferson Highway apartment complex, has been sold. Thompson National Properties, a California-based real estate investment trust, bought the 276-unit complex for an undisclosed amount from the developer, the Dinerstein Companies. The Millennium opened in November 2007. Thompson doesn’t plan to make any significant changes to the property.
Drop in activity: The number of houses sold in metro Baton Rouge was down 22% in May, when compared with the year before. There were 604 homes sold in the Capital Region in May, according to figures from the Greater Baton Rouge Association of Realtors Multiple Listing Service. That compares with the 774 sales that happened in May 2008. The average sale price was down 9% when compared with the year before, the May average was $193,398, compared with $212,229 in May 2008.
