The Pulse NOLA: Hobby Lobby purchases historic building on Magazine Street

A weekly update on the commercial real estate landscape of New Orleans.

Commercial Sales Recorded Last Week

1556 Lapalco Blvd
1556 Lapalco Blvd

Type: Retail
Price: $3,466,667 ($254 / SF)
Buyer: NATIONAL RETAIL PROPERTIES LP
Elifin’s Notes: Maryland-based corporation acquires the approximately 13,653 sq ft Walgreens building retail property in the Harvey area

1420 Lapalco Blvd
1420 Lapalco Blvd

Type: Land
Price: $1,170,000 ($11.83 / Land SF)
Buyer: BUSINESS PROPERTY LLC
Elifin’s Notes: Local investor purchases 2.27 acres of undeveloped land in the Oakdale area

2325 Severn Avenue
2325 Severn Avenue

Type: Office
Price: $1,150,000 ($115,000 / Unit)
Buyer: LORIA ROSE PROPERTIES LLC
Elifin’s Notes: Mandeville-based investment group acquires an approximately 10-unit office property in the Shrewsbury area

1024 Central Ave
1024 Central Ave

Type: Industrial
Price: $947,395 ($35 / SF)
Buyer: KINGFISH POOL SERVICE LLC
Elifin’s Notes: New Orleans-based investor acquires a 27,210 industrial property in the Metairie area between Airline Drive and the Earhart Expressway

1017 Airline Dr
1017 Airline Dr

Type: Land
Price: $900,000 ($3.55 / Land SF)
Buyer: 1017 AIRLINE DR LLC
Elifin’s Notes: Metairie-based investors acquire a parking lot property with approximately 1,500 spaces on 5.82 acres of land in the Kenner area

2115-2117 S Carrollton Ave
2115-2117 S Carrollton Ave

Type: Multifamily
Price: $675,000 ($112,500 / Unit)
Buyer: WASHINGTON & DANEEL LLC
Elifin’s Notes: Marrero-based investment group acquires a six-unit, with multiple configurations, in the Marlyville/Fontainebleau area

830 3rd St
830 3rd St

Type: Office
Price: $550,000 ($186 / SF)
Buyer: MESSINA BUILDING LLC
Elifin’s Notes: Metairie-based investors acquire 2,950 sq ft two-story office property in the Village of Mechanickham area

1829 Jutland Dr
1829 Jutland Dr

Type: Industrial
Price: $322,250 ($107 / SF)
Buyer: IMPACT COOLING SOLUTIONS LLC
Elifin’s Notes: Local organization acquires a 3,000 sq ft industrial warehouse space in the Lapalco Commercial Park area

4620 Magazine St
4620 Magazine St

Type: Specialty
Price: $275,000 ($23 / SF)
Buyer: HOBBY LOBBY STORES INC
Elifin’s Notes: Hobby Lobby Stores, Inc. purchase a 0.44 acre lot of land with a religious facility and ancillary building combining for 12,136 sq ft along Magazine Street in the West Riverside area

4051 Westbank Expy
4051 Westbank Expy

Type: Office
Price: $230,000 ($70 / SF)
Buyer: TEMPLET RENTALS LLC
Elifin’s Notes: Local investors purchase a 3,292 sq ft office building in the Glendale Park area


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 $300,000. 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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