Notoco Holdings purchased a 1.12-acre site off Old Scenic Highway in the Zachary Commerce Center on the corner of La. Highway 64 and La. Highway 964. Notoco has purchased a site for the development of a new family restaurant called The Mill. The site sold for $485,380 or $9.95 per square foot, in a deal that closed Thursday. Notoco Holdings was represented by Suzi Gautreaux at Keller Williams Realty Red Stick Plus. The seller, Old Scenic Highway was represented by Randy Herring at Sealy & Falgoust Real Estate. According to Gautreaux, the property will be improved with a 7,000-8,000-square-foot family-style restaurant that will have private rooms for meetings and banquets, and a patio for outside dining. Construction will begin sometime in the next two months. The shopping center is part of a large development done by Old Scenic Highway, which includes an apartment complex and retail center. Within the retail center there were several sites left vacant and made available for sale. One site was purchased and improved by Sammy’s restaurant.
— Acadian Development of Central, represented by Justin Langlois at Sealy & Falgoust Real Estate, sold a site to the Dow Louisiana Federal Credit Union just off the northeast corner of Wax Road and Sullivan Road. The 1.30-acre site is an L-shaped lot with access to Wax Road. The sale took place for $674,231 or about $12 per square foot. Marc Barker with NAI/Latter & Blum Real Estate represented Dow Louisiana. Dow intends to develop another credit union branch on the site. The sale originally was worked out for a slightly smaller tract at a higher price per square foot, but the Louisiana Department of Transportation and Development would not grant a curb cut. Additional land had to be purchased to satisfy the DOTD.
(Appraiser Tom Cook owns Cook Moore and Associates. Reach him at 293-7006 or TCook@cookmoore.com.)
