PAGE TITLE: DIGITS
PAGE SUBHEAD: Baton Rouge’s commercial market by the numbers
[ ILLUSTRATION: iSTOCK 18890862 (I know it’s different; was trying to avoid another tape measure. Feel free to substitute) ]
>>> GRAPHIC 1
6.6 million square feet
Total Class A and Class B space in the Baton Rouge office market
[ ILLUSTRATION: iSTOCK 10558089 or 18218138 or similar ]
>>> GRAPHIC 2
HED: Hot spots
SUBHED: Class A and Class B office occupancy by area in 2015
Acadian/College: 91.01%
Downtown: 92.06%
Florida/Airline: 70.97%
Sherwood Forest: 88.31%
Essen/Bluebonnet: 96.62%
[ ILLUSTRATION: iSTOCK 48904116Â or similar ]
>>> GRAPHIC 3
HED: The going rate
SUBHED: Class A average office rental rate per square foot
Acadian/College: $22
Downtown: $23.29
Florida/Airline: N/A
Sherwood Forest: $19.15
Essen/Bluebonnet: $22.42
SUBHED: Class B average office rental rate per square foot
Acadian/College: $15
Downtown: $17.78
Florida/Airline: $13.29
Sherwood Forest: $17
Essen/Bluebonnet: $15.50
[ PHOTO: Citiplace.jpg in RER-61 folder ]
>>> GRAPHIC 3
HED: Three big deals
SUBHEAD: Recent notable transactions
$52.7 million
Songy Highroads acquired the former JTS porfolio in October 2013. It includes Acadian Center, Citiplace I, Citiplace II, Corporate Atrium and Sherwood Oaks Office Park.
$15.4 million
Cole Capital purchased the former State Farm building at 2370 Towne Center Boulevard in March 2014.
$8.15 million
A group of New Orleans investors led by Latter & Blue executive Robert Merrick acquired the 78,000-square-foot 4000 Sherwood building from TIC of California. The deal closed in January 2015.
SOURCE: Research data was provided by the Commercial & Investment Division of the Greater Baton Rouge Association of Realtors and presented at the 2015 Baton Rouge Trends seminar. For more information, visit batonrougetrends.net.
