The Pulse BR: Villas at Riverbend sells for 23.7mm

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

Commercial Sales Recorded Last Week

5689 River Road
5689 River Road

Type: Multifamily
Price: $23,750,000 ($77,110 / Unit)
Buyer: Riverbend Owners LLC
Elifin’s Notes: Ashland Capital, an Illinois-based real estate investment firm, purchase the Villas at Riverbend, a 308 unit student housing complex near LSU.

9105 Park Bluff Dr
9105 Park Bluff Dr

Type: Land
Price: $6,000,000 ($7.65 / Land SF)
Buyer: Penske Truck Leasing Co, LP
Elifin’s Notes: Penske Truck Rentals purchase 18 acres just off of I-10 and Pecue Lane.

5151 S Sherwood Forest Blvd
5151 S Sherwood Forest Blvd

Type: Retail
Price: $4,148,000 ($192.93 / SF)
Buyer: Terraza 8, LLC
Elifin’s Notes: Realty Income, a San Diego-based real estate investment firm, purchase the La-Z-Boy location on S Sherwood Forest Blvd.

Tract A-2 Perkins Rd
Tract A-2 Perkins Rd

Type: Land
Price: $3,082,901 ($2.81 / Land SF)
Buyer: East Baton Rouge Parish School Board
Elifin’s Notes: East Baton Rouge Parish School Board purchases 25+ acres off of Perkins Rd.

Thomas Rd at Leisure Rd
Thomas Rd at Leisure Rd

Type: Industrial
Price: $1,325,000 ($36.81 / SF)
Buyer: Contois-Parker Properties LLC
Elifin’s Notes: Industrial property off Hwy 19 between Baton Rouge and Baker sells.

2330 College Dr
2330 College Dr

Type: Retail
Price: $1,215,000 ($538.80 / SF)
Buyer: 2330 College Dr
Elifin’s Notes: Former Serop’s Express on College Dr sells to neighboring gas station owners.

11911 Justice Ave
11911 Justice Ave

Type: Office
Price: $540,000 ($75.00 / SF)
Buyer: Blue Bridge ASL Academy LLC
Elifin’s Notes: Blue Bridge ASL Academy purchase Justice Ave office building.

12666 Jefferson Hwy
12666 Jefferson Hwy

Type: Self-Storage
Price: $427,000 ($4,965 / Unit)
Buyer: KOSF II – Baton Rouge LLC
Elifin’s Notes: KO Storage, a Minneapolis-based storage facility company, purchase 86-unit self-storage facility on Jefferson Hwy.

10247 Jefferson Hwy
10247 Jefferson Hwy

Type: Land
Price: $385,000 ($51.33 / Land SF)
Buyer: Cagley-McConnell Properties LLC
Elifin’s Notes: Office pad site sells at the Metro, an office condominium development off Jefferson Hwy.

11842 Justice Ave
11842 Justice Ave

Type: Office
Price: $350,000 ($83.33 / SF)
Buyer: Ramasamy Ramakrishnan
Elifin’s Notes: The Houston-based owner of A & B Labs purchases Justice Ave office building.

799 Gardere Lane
799 Gardere Lane

Type: Land
Price: $250,000 ($13.04 / Land SF)
Buyer: ANC RAC Holdings LLC
Elifin’s Notes: Tract of land sells off Gardere Lane near Burbank Dr.

Prescott Rd

Type: Land
Price: $165,000 ($0.18 / Land SF)
Buyer: The Baton Rouge Water Works Company
Elifin’s Notes: The Baton Rouge Water Company purchases 20+ acres off Prescott Rd near Joor Rd.

553 Lofaso St
553 Lofaso St

Type: Land
Price: $162,000 ($6.76 / Land SF)
Buyer: Louisiana Lifegate LLC
Elifin’s Notes: Louisiana Liftgate purchases .55 acres on the corner of North St and Lofaso St.

7119 Florida Blvd
7119 Florida Blvd

Type: Retail
Price: Withheld
Buyer: JRE Sherwood BC Investments LLC
Elifin’s Notes: Local real estate agents, Clarke Williams and Donald Jarreau, purchase property leased to Dollar Tree in front of the old Bon Marche center on Florida Blvd.

4520 S Sherwood Forest Blvd
4520 S Sherwood Forest Blvd

Type: Retail
Price: Withheld
Buyer: JRE Sherwood BC Investment LLC
Elifin’s Notes: Local real estate agents and investors, Clarke Williams and Donald Jarreau, purchase Lake Sherwood Mall shopping center at the corner of S Sherwood Forest Blvd and Coursey Blvd.

 


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.

Elifin Realty
marketing@elifinrealty.com
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