Investors buy OLOL Dermatology clinic for $1.2 million
A group of investors have purchased the Our Lady of the Lake Dermatology clinic near the Bocage neighborhood for $1.2 million in a transaction that closed Thursday, according to records filed with the East Baton Rouge Parish Clerk of Court.
HSP Properties LLC—which is managed by real estate agents Benjamin Stalter and Ranson Pipes, both with Maestri-Murrell Commercial Real Estate, as well as Chad and Jerry Himmel—bought the office at 7855 Jefferson Highway from Jefferson R/E MSK Properties LLC, which is managed by Mohammed Khan.
The office is 4,975 square feet, Pipes says, and is located on half an acre of land. The group bought the property as an investment, Pipes says, and plans to keep OLOL as a tenant.
The group doesn’t plan any renovations to the property other than making improvements to the parking lot. The deal was contingent on the seller making improvements to the building’s siding.
“We actually identified the property as an investment for a repeat client, and we went in on the deal ourselves,” Pipes says.