The Pulse LFT: Hotel investors purchase two hotels for 25.5mm

29 Jan The Pulse LFT: Hotel investors purchase two hotels for 25.5mm

Posted at 09:18h in Research, The Pulse, The Pulse: Lafayette by ELIFIN® 0 Comments

A weekly update on the commercial real estate landscape of Lafayette.

Commercial Sales Recorded Last Week

1909 Kaliste Saloom Rd, Lafayette, LA 70508

Type: Hospitality
Price: $13,750,000 ($129,717 / Unit)
Buyer: OM SHANTI OM TWELVE LLC
Elifin’s Notes: In one of two acquisitions this past week, Om Shanti Om LLC, a hotel investment group, purchases the Home2 Suites within the Parc Lafayette Center

201 Kaliste Saloom Rd, Lafayette, LA 70508

Type: Hospitality
Price: $11,750,000 ($91,085 / Unit)
Buyer: OM SHANTI OM THIRTEEN LLC
Elifin’s Notes: In one of two acquisitions this past week, Om Shanti Om LLC, a hotel investment group, purchases the Homewood Suites near the intersection of Kaliste Saloom Road and West Pinhook Road

3721 Hwy 90 E, Broussard, LA 70518

Type: Industrial
Price: $2,101,000 ($87.53 / SF)
Buyer: IDK INVESTMENTS LLC
Elifin’s Notes: A South Carolina-based entity purchases this industrial property, one of two it acquired this past week, near North Bernard Road in Broussard

3605 Hwy 90 E, Broussard, LA 70518

Type: Industrial
Price: $1,324,000 ($67.75 / SF)
Buyer: IDK INVESTMENTS LLC
Elifin’s Notes: A South Carolina-based entity purchases this industrial property, one of two it acquired this past week, near North Bernard Road in Broussard

504 Guilbeau Rd, Lafayette, LA 70506

Type: Retail
Price: $750,000 ($120.19 / SF)
Buyer: TUU & LAN PROPERTIES LLC
Elifin’s Notes: A pair of local investors purchase a retail shopping center on Guilbeau Road near West Congress Street

165A Industrial Pkwy, Lafayette, LA 70508

Type: Industrial
Price: $500,000 ($58.82 / SF)
Buyer: TOUCAN GAMING LLC
Elifin’s Notes: Toucan Gaming LLC purchases an industrial property between West Pinhook Road and South College Road on Industrial Parkway

5738 Johnston St, Lafayette, LA 70503

Type: Retail
Price: $460,000 ($153.33 / SF)
Buyer: 5738 LLC
Elifin’s Notes: A pair of local investors purchase a 0.9+ tract of land with an existing improvement, advertised to be possibly rehabilitated or demolished in the future, bounded by Johnston Street and the Target Loop

2300BLK S College Rd, Lafayette, LA 70508

Type: Land
Price: Withheld
Buyer: SCAPES INC
Elifin’s Notes: Scapes Inc purchases 1.9+ acres of vacant commercial land at the intersection of South College Road and Denbo Street

Commercial Permits Issued Last Week

Address	Type / Value	Description	Owner / Applicant / Contractor
3804 MOSS ST	Addition / Alteration / Repair (C) 83043	Provide and Install 60 mil TPO induction welded Roof System over 1″ PolyIso Insulation recovering existing roof.	[O] N/A [C] North American Roofing Services, LLC, Eric Heishman
3221 AMBASSADOR CAFFERY PKWY	Demo (C) 10000	DEMO	[O] N/A [C] owner, RUBEN CHAVEZ
300 YOUNGSVILLE HWY	Addition / Alteration / Repair (C) 0	Building walls	[O] N/A [C] N/A
401 BROADMOOR BLVD	Addition / Alteration / Repair (C) 0	Replace existing toilet partitions with new toilet partitions, along with repair of adjacent finishes and painting of affected wall surfaces. No permit required per Bruce Williams	[O] N/A [C] N/A
507 BOURQUE RD	Addition / Alteration / Repair (C) 0	Level 2 alteration to an existing office building. The majority of the building envelope shall remain unchanged. Exterior work is limited to paint and lap siding replacement. The first floor has interior modifications that reconfigure the office space and modifications to the restrooms to make them compliant with ADA.	[O] N/A [C] N/A
146 EXPLORATION RD	Electrical Standalone (C) 0	We’re installing a permanent 200-amp power pole service for a trailer, . Power company is Slemco.	[O] N/A [C] N/A
1509 AMBASSADOR CAFFERY PKWY	Electrical Standalone (C) 0	have received a request to start services at 1509 Ambassador Caffery Pkwy, Lafayette, LA, 70506. On January 22, 2024 I received the Certificate of Occupancy, however, the electric services have been off for more than 6 months. At this time an 6 month electrical inspection is needed to complete the request.	[O] N/A [C] N/A
1509 AMBASSADOR CAFFERY PKWY	Electrical Standalone (C) 0	Commercial bldg vacant for 6 months, New tenant to move in. was instructed needed permit	[O] N/A [C] N/A
708 W UNIVERSITY AVE	Electrical Standalone (C) 0	OFF MORE THAN 6MTHS	[O] N/A [C] N/A
708 W UNIVERSITY AVE	Electrical Standalone (C) 0	OFF MORE THAN 6MTHS	[O] N/A [C] N/A
100 W BLUEBIRD DR	Not Set 0	60 AMPS POLE TO POWER UP TOOLS NEED ADDRESS VERIFIED THROUGH DEVELOPMENT	[O] N/A [C] N/A
4607 JOHNSTON ST	Plumbing Standalone (C) 0	Customer is having a new backflow installed	[O] N/A [C] NEXT PLUMBING LLC, BLAIR GOULAS
5521 AMBASSADOR CAFFERY PKWY	Plumbing Standalone (C) 0	retail	[O] N/A [C] APEX PLUMBING AND REPAIRS, QUIN DEROUEN
5530 AMBASSADOR CAFFERY PKWY	Plumbing Standalone (C) 0	Backflow Replacement	[O] N/A [C] ACADIANA PLUMBING SERVICE LLC, DUSTIN R AUCOIN
1321 W PINHOOK RD	Plumbing Standalone (C) 0	Repaired 2 back flows on the property after freeze.	[O] N/A [C] COLVILLE PLUMBING & HEATING INC, DOUGLAS STUTES
3323 AMBASSADOR CAFFERY PKWY	Plumbing Standalone (C) 0	REPLACE BACKFLOW	[O] N/A [C] N/A
3700 E SIMCOE ST	Plumbing Standalone (C) 0	Need 1 more permit for the second backflow	[O] N/A [C] NEXT PLUMBING LLC, BLAIR GOULAS
2017 W UNIVERSITY AVE	Sign – Wall Sign (C) 0	N/A	[O] N/A [C] N/A
215 W WILLOW ST	Sign – Wall Sign (C) 0	N/A	[O] N/A [C] N/A
2017 W UNIVERSITY AVE	Sign – Wall Sign (C) 0	N/A	[O] N/A [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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