15 Jan The Pulse BR: Former McDonald’s on Lee Dr sold

A weekly update on the commercial real estate landscape of Baton Rouge.

Commercial Sales Recorded Last Week

402 Laurel St

Type: Office
Price: $4,777,778 ($216 / Building SF)
Buyer: Placid Refining Company LLC
Elifin’s Notes: Placid Refining Company purchases downtown office building and nearby parking lot.

8729 Granite Dr

Type: Portfolio
Price: $3,000,000 ($68,182 / Unit)
Buyer: JSR1 LLC
Elifin’s Notes: Local architect and real estate investor, Steven Romero, purchases 11 4-plexes around Baton Rouge.

355 W Lee Dr

Type: Retail
Price: $1,800,000 ($526 / SF)
Buyer: Boing US Holdco Inc
Elifin’s Notes: Car Wash Express USA purchase former McDonalds on the corner of W Lee Dr and Burbank Dr.

11311 Florida Blvd

Type: Retail
Price: $900,000 ($228 / SF)
Buyer: Marc 1 Holdings LLC
Elifin’s Notes: Mammoth Holdings, an Atlanta-based car wash investing firm, purchases former bank branch at the corner of Florida Blvd and N Sherwood Forest.

261 E State Street

Type: Multifamily
Price: $770,000 ($128,333 / Unit)
Buyer: Sherwood4626 LLC
Elifin’s Notes: Local investor purchases 6 unit multifamily property near LSU.

2020 Highland Rd

Type: Hospitality
Price: $500,000 ($50,000 / Unit)
Buyer: River East Inn Enterprises LLC
Elifin’s Notes: Texas investor purchases 10 unit motel, River East Inn, on Highland Rd.

Track 4 N Ardenwood Dr

Type: Land
Price: $460,000 ($3.11 / Land SF)
Buyer: Louisiana Agricultural Finance Authority
Elifin’s Notes: Louisiana Agricultural Finance Authority purchase vacant lot neighboring their office on Florida Blvd.

9266 Mammoth Ave

Type: Industrial
Price: $276,955 ($39 / SF)
Buyer: Burl Luce
Elifin’s Notes: Ponchatoula couple purchase industrial property on Mammoth Ave.

11817 Bricksome Ave, Suite A

Type: Office
Price: $125,000 ($63 / SF)
Buyer: Tregg Wilson
Elifin’s Notes: Office condo sells in Office Village Office Condominium.

Upcoming Planning Commission Cases

The Gates at Millerville

• Revised submission 11/22/2022 by Mickey L. Robertson. Proposed amendment to the Comprehensive Land Use Plan from Commercial to Compact Neighborhood and proposed rezoning from Heavy Commercial (C2) to Small Planned Unit Development (SPUD) for a medium density residential development on property located east of Millerville Road, south of Hunter’s Ridge Drive.
• Plans – Staff Report – Application – View on Map

 
Commercial Rezoning on Old Scenic Hwy

• Submitted 11/10/2022 by Bryant Butler. Proposed rezoning from Rural to Light Commercial Two (LC2) on property located on the east side of Old Scenic Highway, south of Coppermill Boulevard.
• Staff Report – Application – View on Map

Commercial Permits Issued Last Week

Sale records included based on the following parameters: Building and commercial land sales with a sales price that is either withheld or greater than or equal to $100,000. Multifamily sales greater than or equal to 5 units. Sale must be an arm’s length transaction (between unrelated parties). Best efforts are made to provide complete and reliable information, but accuracy is not guaranteed and the reader bears the responsibility to verify the accuracy of such information prior to forwarding it, utilizing it, or relying on it in any way.