J.B. James Construction has purchased a 12.61-acre site, which was formerly occupied by Dominique’s Livestock Market, from Brown’s Stockyard in 2006 for $575,000, or about $1.05 per square foot. Jordan Johnson with Beau Box Commercial Real Estate brokered the transaction May 22. According to Johnson the site was re-zoned from heavy commercial zoning to industrial. Johnson said he was too young to know but that he was told that it was the first time a site had been re-zoned to industrial in the past 10 years. (I am too young to know either, but maybe we can wake Brian Andrews up from his nap and ask him.) The site on Airline Highway is not too far from the old Mississippi River Bridge and is surrounded by similar industrial users.
According to Johnson, the property did have some improvements that would be rehabilitated and used for storage. J.B. James liked the site because it was large enough to be used as a staging area for construction projects. James also liked the location because of its access to major highways and its close proximity to their employee base. The construction company focuses on road construction and is involved in several of the Green Light projects. The purchase will allow them to consolidate several other equipment storage locations to Airline Highway.
(Appraiser Tom Cook owns Cook Moore and Associates. Reach him at 293-7006 or TCook@cookmoore.com.)
