Valero has acquired a 1.7-acre tract in Dutchtown at the intersection of La. 73 and La. 621, just off Interstate 10 in Ascension Parish, and plans to develop a 19,000-square-foot convenience store and gas station on the site.
In a deal that closed Monday, Valero acquired the property for $1.4 million from LA 73 LLC, which had owned the property since 2005, according to Mark Hebert of Kurz & Hebert Commercial Real Estate.
The Valero service station, which will be the company’s 10th in the local market, will be located on the northwest corner of the intersection and will join four other service stations at the busy intersection—a Shell, Mobil, Exxon and Racetrac. But Hebert say there is plenty of demand for new development in the rapidly growing Ascension Parish market. A new residential subdivision is planned for nearby on the north side of I-10, and a multifamily complex and motel are planned for the south side of the interstate.
“The area is on fire,” Hebert says.
—Stephanie Riegel
