Office building goes for $3.3 million: The Goodwood Boulevard office building formerly occupied by Union National Life Insurance has been sold. JSB Interests sold the building to 9357 Interline for $3.3 million in a deal that closed just before the end of the year. The new owner will occupy the building as Gulf Engineers & Consultants. GEC occupied space on Interline Avenue and needed room to expand. The building encompasses 80,150 square feet, so the sale price works out to just over $41 per square foot. Renovations are currently under way, and GEC should move during the first quarter of the year.
Just in time for Mardi Gras: The Hotel Indigo, a boutique property at Convention and Lafayette streets, is set to open in mid-February. Developers had planned for a late 2010 opening for the 93-room hotel. Michael Nelms, director of sales, says the opening was pushed back in order to meet the standards of the Hotel Indigo brand.
Property near the Lakes at Highland sold: A 28.7-acre tract on Highland Road has been sold for $1.3 million. OM Estates bought the land, which is adjacent to the Lakes at Highland, from Business First Bank in a deal that closed Tuesday, says Hank Saurage, who brokered the transaction. Saurage says the new owners bought the land as an investment, and have no immediate plans for the property. “They’re looking at developing at a future date, but they’re waiting for the market to come back,” he says.
No Andrews this week
Brian Andrews is off this week. His column will return soon.
