The Pulse BR: New Jersey-based trust acquires numerous medical facilites

12 Jan The Pulse BR: New Jersey-based trust acquires numerous medical facilites

Posted at 08:28h in Research, The Pulse, The Pulse: Baton Rouge by ELIFIN® 0 Comments

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

The Baton Rouge commercial real estate landscape is experiencing a significant influx of institutional capital, highlighted by a New Jersey-based realty trust acquiring a high-value medical portfolio for over $24 million. Key assets in this transaction include a rehabilitation hospital at 8000 Summa Ave ($10.5M), a nursing facility at 11546 Florida Blvd ($7.5M), and an inpatient hospice center at 10615 Jefferson Hwy ($6.1M). These healthcare transactions, alongside the $11.6M sale of the Bellecour Crossing apartments at 1251 N Ardenwood, underscore the stability of the East Baton Rouge Parish investment market. Beyond institutional sales, local reinvestment is surging, evidenced by a $7.5 million commercial remodel at 4455 American Way and critical infrastructure upgrades at 10310 The Grove Blvd. At ELIFIN®, the #1 commercial real estate brokerage in Louisiana by sales volume, we leverage this granular data to provide our clients with a competitive advantage. Our team’s signature “hustle” and data-driven advisory ensure that whether you are navigating industrial sales on South Choctaw Dr or retail shifts on O’Neal Lane, you are working with the definitive market leaders who make great deals that make life better.

Commercial Sales Recorded Last Week

1251 N Ardenwood Dr, Baton Rouge, LA 70806

Type: Multifamily
Price: $11,600,000 ($35,366 / Unit)
Buyer: ECA Greenview East LLC
Elifin’s Notes: The Bellecour Crossing apartment complex, 328-units, changes hands off of North Ardenwood Drive.

8000 Summa Ave, Baton Rouge, LA 70809

Type: Healthcare
Price: $10,544,896 ($376.60 / SF)
Buyer: Gator 25 LLC
Elifin’s Notes: A New Jersey-based realty property trust purchases a rehabilitation hospital on Summa Avenue.

11546 Florida Blvd, Baton Rouge, LA 70815

Type: Healthcare
Price: $7,557,142 ($236.16 / SF)
Buyer: Gator 25 LLC
Elifin’s Notes: A New Jersey-based realty property trust acquires a nursing and rehabilitation facility property on Florida Boulevard.

10615 Jefferson Hwy, Baton Rouge, LA 70809

Type: Healthcare
Price: $6,151,189 ($375.07 / SF)
Buyer: Gator 25 LLC
Elifin’s Notes: A New Jersey-based realty property trust acquires an inpatient hospice facility on Jefferson Highway.

2327 O’Neal Lane, Baton Rouge, LA 70816

Type: Retail
Price: $5,098,516 ($2,706.22 / SF)
Buyer: Somerfield Investor Hut LLC
Elifin’s Notes: A former Hardee’s occupied QSR property sells on O’Neal Lane.

6363 Main St, Zachary, LA 70791

Type: Retail
Price: $2,500,000 ($128.77 / SF)
Buyer: VRK L L C
Elifin’s Notes: The East Main Shopping Center sells in Zachary.

12050 S Choctaw Dr, Baton Rouge, LA 70815

Type: Industrial
Price: $1,075,000 ($71.67 / SF)
Buyer: Aggie Tiger Investments LLC
Elifin’s Notes: An industrial property changes hands on South Choctaw Drive.

1128 N Coolidge Ave, Gonzales, LA 70737

Type: Land
Price: $760,000 ($1.86 / Land SF)
Buyer: F & B Real Estate Holdings LLC
Elifin’s Notes: A collection of land parcels, totaling 9+ acres, sell on North Coolidge Avenue.

Tract CMTH-1-B-1 Hwy 964, Zachary, LA 70791

Type: Land
Price: $750,000 ($3.09 / Land SF)
Buyer: CTO Holdings LLC
Elifin’s Notes: A 5+ acre parcel of land sells at the entrance to the Copper Mill Golf Club in Zachary.

10235 Jefferson Hwy (Bldg 4, Ste B), Baton Rouge, LA 70809

Type: Office
Price: $450,000 ($204.55 / SF)
Buyer: Pino Holding Company LLC
Elifin’s Notes: An office condo changes hands off of Jefferson Highway.

2989 Monterrey Dr, Baton Rouge, LA 70814

Type: Retail
Price: $425,000 ($70.83 / SF)
Buyer: Aubota LLC
Elifin’s Notes: A hardware store property changes hands on Monterrey Drive.

5125 Hwy 19, Zachary, LA 70791

Type: Retail
Price: $400,000 ($62.50 / SF)
Buyer: Chandler, Chad
Elifin’s Notes: A Mississippi-based investor acquires a shell of a retail property, in need of some improvement, along the Zachary-Slaughter Highway.

8325 Florida Blvd, Baton Rouge, LA 70806

Type: Retail
Price: $365,000 ($169.29 / SF)
Buyer: IAO Realty Investments, Inc.
Elifin’s Notes: An automotive sales property changes hands on Florida Boulevard.

2426 Convention St, Baton Rouge, LA 70806

Type: Multifamily
Price: $350,000 ($17,500 / Unit)
Buyer: Waters Family Investments LLC
Elifin’s Notes: A 20-unit multifamily property changes hands on Convention Street.

7155 Scobell Dr, Baton Rouge, LA 70806

Type: Industrial
Price: $300,000 ($33.89 / SF)
Buyer: Shekinah Glory Christian Center LLC
Elifin’s Notes: A pair of industrial buildings sell on Scobell Drive.

14011 Florida Blvd, Baton Rouge, LA 70819

Type: Retail
Price: $269,000 ($67.25 / SF)
Buyer: Monge Urbina LLC
Elifin’s Notes: A former car wash property sells on Florida Boulevard.

1326 N Willow Ave, Gonzales, LA 70737

Type: Industrial
Price: $255,000 ($30.89 / SF)
Buyer: F & B Real Estate Holdings LLC
Elifin’s Notes: An industrial property along with a nearby land parcel sell on North Willow Avenue.

6363 Equity Dr, Baton Rouge, LA 70809

Type: Land
Price: $117,000 ($8.22 / Land SF)
Buyer: Sarasvati Investments LLC
Elifin’s Notes: A 0.3+ acre parcel of commercial land sells on Equity Drive.

12424 Plank Rd, Baker, LA 70714

Type: Retail
Price: Withheld
Buyer: Freehold Inc
Elifin’s Notes: A fast-food restaurant property changes hands at the corner of Plank Road and Comite Drive.

6520 Corporate Blvd, Baton Rouge, LA 70809

Type: Hospitality
Price: Withheld
Buyer: Trinity Baton Rouge Hotel LLC
Elifin’s Notes: The 101-room Extended Stay America sells on Corporate Boulevard.

17188 Airline Hwy, Prairieville, LA 70769

Type: Retail
Price: Withheld
Buyer: LA Airline Plaza LLC
Elifin’s Notes: The Oak Grove Plaza Shopping Center sells on Airline Highway in Prairieville.

Commercial Permits Issued Last Week

Address	Type / Value	Description	Owner / Applicant / Contractor
4455 AMERICAN WAY	Existing Bldg – Remodel Only (C) $7,500,000	1st floor: Training Room, Gym, Reception, Restrooms, Locker Rooms, and Tenant Space (no work in tenant Space)2nd floor: Tenant Space (no work on this floor)3rd floor: Tenant Space (no work in tenant space) and IT Room4th floor: Offices, reception, cubiclesTHIS PROJECT CONSISTS OF INTERIOR BUILDOUTS OF THE FIRST AND FOURTH FLOOR ONLY FOR A FOUR-STORY BUILDING IN BATON ROUGE, LA. THERE IS LITTLE WORK ON THE THIRD FLOOR TO DECREASE THE SIZE OF THE EXISTING I.T. ROOM. THERE WILL BE NO WORK ON THE SECOND FLOOR AND THE REMAINDER OF THE THIRD FLOOR.THERE IS ONLY INTERIOR DESIGN, MECHANICAL, PLUMBING, ELECTRICAL, AND FIRE PROTECTION WORK ON THIS PROJECT. THERE IS NO STRUCTURAL WORK OR STRUCTURAL MODIFICATIONS ON THE PROJECT.A demo permit was applied for this project. That permit application is APP-189659. 1st floor: Training Room, Gym, Reception, Restrooms, Locker Rooms, and Tenant Space (no work in tenant Space)2nd floor: Tenant Space (no work on this floor)3rd floor: Tenant Space (no work in tenant space) and IT Room4th floor: Offices, reception, cubiclesTHIS PROJECT CONSISTS OF INTERIOR BUILDOUTS OF THE FIRST AND FOURTH FLOOR ONLY FOR A FOUR-STORY BUILDING IN BATON ROUGE, LA. THERE IS LITTLE WORK ON THE THIRD FLOOR TO DECREASE THE SIZE OF THE EXISTING I.T. ROOM. THERE WILL BE NO WORK ON THE SECOND FLOOR AND THE REMAINDER OF THE THIRD FLOOR.THERE IS ONLY INTERIOR DESIGN, MECHANICAL, PLUMBING, ELECTRICAL, AND FIRE PROTECTION WORK ON THIS PROJECT. THERE IS NO STRUCTURAL WORK OR STRUCTURAL MODIFICATIONS ON THE PROJECT.A demo permit was applied for this project. That permit application is APP-189659.	[O] Tom Wright [A] Kyle Hymel [C] Kent Design Build, Inc.
4250 T.B. HERNDON AVE	New Building Permit (C) $2,148,497	CONSTRUCTION OF A NEW 5-BAY STORAGE BUILDING WITH TRAINING SPACE, RESTROOMS, OFFICES AND ASSOCIATED SITEWORK.	[O] Robert Gray [A] Mike Bourque [C] SIENNA CONSTRUCTION, L.L.C. – Mark Alan Spano
10310 THE GROVE BLVD	Existing Bldg – Remodel Only (C) $750,000	(EXPEDITED) PROVIDING AN ADDITIONAL CHILLER AND COOLING TOWER IN THE EXISTING CENTRAL ENERGY PLANT BUILDING TO INCREASE COOLING CAPACITY OF THIS CAMPUS. NO NEW ARCHITECTURAL WORK AND NO CHAGNES TO EGRESS IN THIS PROJECT.	[O] [A] Corey Raber [C] The Lemoine Company, L.L.C – Leonard K. Lemoine
2431 S ACADIAN THWY	Existing Bldg – Remodel Only (C) $550,000	Commercial Remodel	[O] Al Perkins [A] King Barber [C] King Barber Construction LLC
100 WOMAN’S WAY	Existing Bldg – Remodel Only (C) $470,000	New Milk Analyzer Room to evaluate milk on the 3rd Floor of Woman’s Hospital. The building is a hospital.	[O] [A] Winston Blewster [C] Arkel Constructors, LLC – John H. Fife
345 N 18TH ST	Existing Bldg – Remodel Only (C) $120,000	This project is a remediation of an existing type V-B multi-family residential building. The scope will only include shoring and removal of a damaged exterior wall, reconstruction of this wall, and all existing electrical is to be capped, coiled, and reinstalled in the same place by a licensed electrician. The scope will not include any plumbing or mechanical work. No interior spaces will be remodeled, the scope for this project is strictly remediation of the existing building.	[O] [A] Ritter Maher [C] CENTURION CONSTRUCTION MANAGEMENT, L.L.C. – Chad Nicholas Guzzardo
9001 CORTANA PL	Fence Permit (C) $100,000	New Commercial fence.	[O] Gary Obershaw [A] Brooks Stickler [C] MAPP CONSTRUCTION, LLC. – Michael A. Polito
5057 BAKER BLVD	Existing Bldg – Remodel Only (C) $85,000	This is a rental property This is for 5057 BAKER BLVD unit B downstairs of a 4-plex unit.	[O] Logan Morgan [A] Logan Morgan [C] Morgan Improvements, LLC – Logan Tanner Morgan
10310 THE GROVE BLVD	Existing Bldg – Remodel Only (C) $80,000	(EXPEDITED) INSTALL NEW STERILIZER AND THRU WALL WASHER IN THE EXISTING STERILE PROCESSING DEPARTMENT. WE WILL ALSO REARRANGE PROCESSING TABLE TO PROVIDE A NET ADD OF 2 TABLES. NO CHANGES TO EGRESS. MINOR MEP CHANGES ASSOCIATED WITH THIS WORK. Shell addition Permit 170870. Build out permit 173407 the buildout of that 1 story shell to include the following major spaces: 4 ORs, 1 Cath Lab, Expanded clean supply, storage, equipment storage, and space for future Cath Lab and additional ancillary support spaces	[O] [A] Corey Raber [C] The Lemoine Company, L.L.C – Leonard K. Lemoine
5057 BAKER BLVD	Existing Bldg – Remodel Only (C) $65,000	This in a rental property This is for 5057 BAKER BLVD unit A downstairs of a 4-plex unit.	[O] Logan Tanner Morgan [A] Logan Morgan [C] Morgan Improvements, LLC – Logan Tanner Morgan
3871 NOKOMIS ST	Existing Bldg – Remodel Only (C) $40,000	Office/warehouse building being converted to a reception Hall. Office area gutted to studs. Installing Drywall, paint and other cosmetic renovations. Install electrical. Install toilets, sinks, doors/trim and any other hardware+fixtures.	[O] Keisha Houston [A] Jordan Young [C] CMG, LLC – Tevin Kadeem Wade
2855 O’NEAL LN	New Building Permit (C) $20,000	(Expedite)(A small metal building on a slab in my parking lot to store materials in. Its 1,500 sq ft.	[O] Bryan Cabrera [A] Ryan Alexander [C] Able Industries LLC – Bryan Mitchell Cabrera
801 S FLANNERY RD	Sign Permit (C) $20,000	Commercial Monument Sign	[O] [A] Rachael Gautier [C] N/A
8905 HIGHLAND RD	Sign Permit (C) $1,250	Sign- Wall	[O] [A] Morgan Descant [C] Deep South Signs LLC
9385 BURBANK DR	Sign Permit (C) $845	Sign- Wall	[O] [A] Cody Jenkins [C] BRIGHTBOX WHOLESALE SIGNAGE, LLC
6889 CORPORATE BLVD	Occupancy Permit (C) N/A	BANK	[O] [A] Kayla Haertel [C] N/A
9244 STE K FLORIDA BLVD	Occupancy Permit (Clean & Show) (C) N/A	Suite is empty and need to transfer electricity from previous tenants. It is for clean and show. Suite K	[O] [A] Lucius Butts [C] N/A
8031 AIRLINE HWY	Occupancy Permit (C) N/A	BANK	[O] [A] Kayla Haertel [C] N/A
1814 WOODDALE CT	Occupancy Permit (C) N/A	No work to be done. Moving into new office space.	[O] [A] E. Jacob FaKouri [C] N/A
9654 BROOKLINE AVE	Occupancy Permit (C) N/A	Will be used for podcast filming and photography along with basic editing via laptop. Suite 210,	[O] [A] Ken Rhea [C] N/A
EBR 123 test st	Occupancy Permit (C) N/A	MGO test Only. Any subsequent requirement notifications to you or your department from this test permit may simply be marked info needed to remove from your To Do tasks. Thank you. Sorry for the inconvenience.	[O] [A] Evan Stringer [C] N/A
11364 S CHOCTAW DR	Occupancy Permit (Clean & Show) (C) N/A	NEED A CLEAN AND SHOW INSPECTION SO THAT WE CAN KEEP THE ELECTRICITY ON. BRFD	[O] [A] ANDREW Fay [C] N/A
7171 STE 1 AIRLINE HWY	Occupancy Permit (C) N/A	Building will be used to complete tax returns.	[O] [A] Starr Carbo [C] N/A
3575 CHOCTAW DR	Re-Roof (C) N/A	See signed contract for scope.118,730.00	[O] Kade Doyal [A] Jake Burkett [C] Premier South LLC
7809 JEFFERSON HWY	Occupancy Permit (C) N/A	Office	[O] [A] Lauren DiVincenti [C] N/A
7809 JEFFERSON HWY	Occupancy Permit (C) N/A	Office space	[O] [A] Lauren DiVincenti [C] N/A
7809 JEFFERSON HWY	Occupancy Permit (C) N/A	office	[O] [A] Lauren DiVincenti [C] N/A
1976 WOODDALE BLVD	Occupancy Permit (Clean & Show) (C) N/A	Showing building to have building rented or Sold	[O] [A] Jill Savard [C] N/A
10988 N HARRELL’S FERRY RD	Occupancy Permit (C) N/A	Office space for residential cleaning company. Suite 10	[O] [A] Joe Messmore [C] N/A
3015 MILLERVILLE RD	Occupancy Permit (C) N/A	convenience store with gas	[O] [A] AMIN THABATA [C] N/A
15735 FLORIDA BLVD	Occupancy Permit (C) N/A	Office rental space Office rental space	[O] [A] Mike Roblin [C] N/A
4875 STE C S SHERWOOD FOREST BLVD	Occupancy Permit (C) N/A	tax preparations	[O] [A] Rashanda Lockett [C] N/A
3333 N FOSTER DR	Fence Permit (C) N/A	PARKING LOT	[O] sunny nguyen [A] sunny nguyen [C] N/A
8261 STE A SUMMA AVE	Occupancy Permit (C) N/A	The building is being utilized for Behavioral Health services.	[O] [A] Tekia Geralds [C] N/A
5638 STE B SUPERIOR DR	Occupancy Permit (C) N/A	Suite B. Office space will be used to conduct operations for a commercial cleaning franchise. These tasks include phone calls, accounting, filing paperwork, and meetings.	[O] [A] Adlissa London [C] N/A
162 LEE DR	Occupancy Permit (C) N/A	Power Release change name Ste C.	[O] [A] Hien Nguyen [C] N/A
1607 COLLEGE DR	Re-Roof (C) N/A	Replacing apartment shingle roofs with brand new ones	[O] [A] David Morejon [C] Premier South LLC
7310 STE A AIRLINE HWY	Occupancy Permit (C) N/A	quick service Pizza restaurant to STE H	[O] [A] Pizza Hut of America, LLC [C] N/A
7330 PLANK RD	Occupancy Permit (C) N/A	its a restaurant	[O] [A] Bridget Wesley [C] N/A
12330 STE 7 FLORIDA BLVD	Occupancy Permit (C) N/A	Car lot	[O] [A] Mykayla Weems [C] N/A
10425 AIRLINE HWY	Occupancy Permit (C) N/A	PAWNSHOP	[O] [A] JOHN STRATE [C] N/A
11698 FLORIDA BLVD	Occupancy Permit (C) N/A	PAWNSHOP	[O] [A] JOHN STRATE [C] N/A
8531 GREENWELL SPRINGS RD	Occupancy Permit (C) N/A	PHOTOGRAPHY AND CANDLE BUSINESS	[O] [A] diquincia edwards [C] N/A

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.

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