Sherwood Forest tract sold for Affordable Dentures development

It has been a busy day for retired restaurateur Giovanni Mucciacciaro. First he acquired a 45,000-square-foot undeveloped tract at South Sherwood Forest Boulevard and Justice Avenue from Iberville Bank for $400,000, and then subsequently executed a lease with Affordable Dentures to develop a 4,000-square-foot, build-to-suit facility for the local practice of the national denture care company. The back-to-back transactions were a proverbial win-win for all parties involved, says Mark Hebert of Kurz & Hebert Commercial Real Estate, who represented Mucciacciaro. The North Carolina-based Affordable Dentures has outgrown its existing location on Airline and Old Hammond highways and needed more space. Mucciacciaro, the company’s landlord, agreed to help find a new location for the practice. The South Sherwood Forest Boulevard property was a bank foreclosure. “Affordable [Dentures] and Giovanni have always had a great relationship, so they asked him to find a suitable location and he did,” says Hebert, who declined to disclose the terms of the lease. Salco Construction will build the new facility for Affordable Dentures, which has 185 affiliated practices in 38 states. Once it is complete, Mucciacciaro plans to redevelop the Airline Highway property, probably as a fast-food outlet, Hebert says. Grey Mullins of Beau Box Commercial Real Estate represented Iberville Bank in the transaction. —Stephanie Riegel