09 May The Deal That Brought 5551 Corporate Blvd Back to Life

Fabian Edwards of ELIFIN® represented Scott Berg in both the acquisition and leasing of the office building located at 5551 Corporate Blvd in Baton Rouge, LA.

Challenge

The nearly 60,000 square foot office building had sat vacant for close to two years following a fire in December 2023 that left significant smoke damage throughout the property. The building needed substantial renovation before it could be occupied, but investing in a full rehab without a committed tenant in place carried real financial risk. The challenge was not simply finding a buyer or a tenant in isolation. It required doing both simultaneously, and in the right sequence, to make the project economically viable.

Strategy

While Fabian’s client, Scott Berg of Lee Michael’s Fine Jewelry, moved forward with the purchase, Fabian worked in parallel to secure a tenant before the renovation began. The logic was straightforward: there was no reason to rehab a building without knowing who was moving in. Fabian negotiated a lease with Hannis T. Bourgeois, a well-established Baton Rouge CPA firm founded in 1924 with over 150 team members, who agreed to occupy approximately 30,000 square feet across the first and second floors. Locking in HTB before closing gave the buyer the confidence to move forward with the acquisition and gave the renovation a clear scope and purpose.

Result

Berg closed the purchase in February 2025, with a major anchor tenant already committed. Hannis T. Bourgeois, relocating and consolidating their Baton Rouge headquarters from multiple locations into a single modern workspace, is expected to move in once renovations are complete. The remaining third of the building continues to be marketed. A long-vacant, fire-damaged building on one of Baton Rouge’s most visible office corridors is now under active renovation with a prominent tenant in place, a result that required Fabian to manage the acquisition and leasing tracks simultaneously and bring both across the finish line.

Leading Agent

Fabian Edwards, JD/DCL