The building on South Choctaw Drive that formerly housed Fraenkel Wholesale Furniture has been sold to the Greater Baton Rouge Food Bank. The food bank purchased the building for $3.25 million earlier this month. The building has about 175,000 square feet, so the sale price calculates to about $18.50 per square foot. The building had a relatively high percentage of space that was heated and cooled, which was used for showroom and office space for Fraenkel. The food bank had negotiated on other sites in the area but settled on this site, which is well suited for storage. The food bank’s purchase at $18.50 per square foot is a good use of their capital. The cost to construct a new building of similar size and quality would have far exceeded the purchase price.
(Appraiser Tom Cook owns Cook Moore and Associates. Reach him at 293-7006 or TCook@cookmoore.com.)
