The Pulse NOLA: Tulane Purchases Full City Block

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

Commercial Sales Recorded Last Week

1540 Canal St; 1565 Cleveland Ave, New Orleans, LA 70112
1540 Canal St; 1565 Cleveland Ave

Type: Mixed-Use
Price: $13,150,000 ($1,730 / SF)
Buyer: ADMINISTRATORS OF THE TULANE EDUCATIONAL FUND
Elifin’s Notes: At the center of development in the Storyville area along Canal Street, Tulane extends their footprint toward the river by purchasing a full block totalling 1.89 acres, consisting of two buildings and a parking lot.

4100 Michoud Blvd
4100 Michoud Blvd

Type: Self-Storage
Price: $1,150,000 ($12 / SF)
Buyer: 4100 MICHOUD LLC
Elifin’s Notes: The Kerns snatch up a 10 acre New Orleans East parcel with a storage facility.

3301, 3307 S Carrollton Avenue
3301, 3307 S Carrollton Avenue

Type: Retail
Price: $650,000 ($374 / SF)
Buyer: CHAN PROPERTIES LLC
Elifin’s Notes: Restaurant space on South Carrolton, with 1,740 sq ft and drive-thru fitted, sells to local investor.

2350 Saint Claude Ave
2350 Saint Claude Ave

Type: Retail
Price: $400,000 ($273 / SF)
Buyer: CHEZ TESORO LLC
Elifin’s Notes: At the center of the St. Roch area, a 1,400+ sq ft retail space right on St. Claude sells to local investor

528 S Galvez St
528 S Galvez St

Type: Land
Price: $365,000 ($46.09 / Land SF)
Buyer: LSU HEALTH FOUNDATION NEW ORLEANS
Elifin’s Notes: LSU Health Foundation New Orleans picks up a crucial .18 acre lot in the Tulane-Gravier area, netting the keen-eyed sellers a 160% return after two years.

780 Perdido St
780 Perdido St

Type: Land
Price: $357,107 ($14.27 / Land SF)
Buyer: HARTEL ENTERPRISES L L C
Elifin’s Notes: Half an acre of land purchased in Mid-City by a local investor


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®
Elifin Realty
marketing@elifinrealty.com
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