08 Mar The Pulse Northshore: Assisted living facility sold for 8.5mm

A weekly update on the commercial real estate landscape of The Northshore.

Commercial Sales Recorded Last Week

19432 Crawford Rd, Covington, LA 70433

Type: Healthcare
Price: $8,500,000 ($100.05 / SF)
Buyer: SABRA HEALTH CARE HOLDINGS III LLC
Elifin’s Notes: A California-based Health Care REIT purchases The Trace, an assissted/indpendent living facility.

215 Park Pl, Covington, LA 70433

Type: Industrial
Price: $1,500,000 ($78.13 / SF)
Buyer: CAP3 LLC
Elifin’s Notes: A former Fed Ex shipping center and warehouse sells within the Northpark Business Park in Covington.

120 E Thomas St, Hammond, LA 70401

Type: Retail
Price: $900,000 ($118.42 / SF)
Buyer: CIN CIN LLC
Elifin’s Notes: A group of local investors purchase the commercial property occupied by The Red, White, & Brew, liquor store with a full service bar, in Downtown Hammond.

2255 11th St, Mandeville, LA 70471

Type: Retail
Price: $657,000 ($205.31 / SF)
Buyer: ORANGE SOLAR PROPERTIES LLC
Elifin’s Notes: A retail property with a showroom, back offices and a 20+ car parking lot sells to a local investor.

906 W Oak St, Amite City, LA 70422

Type: Retail
Price: $550,000 ($763.89 / SF)
Buyer: SCC OF AMITE LLC
Elifin’s Notes: A QSR property, formerly a Smoothie King location, sells in Amite.

800 Covington Ctr, Covington, LA 70433

Type: Office
Price: $350,000 ($240.05 / SF)
Buyer: TRUE NORTH PROPERTY HOLDINGS LLC
Elifin’s Notes: A Baton Rouge-based CPA firm purchases an office property in Covington.

72074 Live Oak St, Abita Springs, LA 70420

Type: Retail
Price: $325,000 ($148.13 / SF)
Buyer: MARTINS STEPHEN WILLAIM; MARTINS JAMIE BAILLIO
Elifin’s Notes: A pair of local investors purchase a commercial property, occupied by the Southern Magnolia Montessori School, next to the Abita Springs Town Hall.

75130 Hwy 25, Covington, LA 70435

Type: Specialty
Price: $300,000 ($27.27 / SF)
Buyer: JSB HWY 25 LLC
Elifin’s Notes: A former religious facility with a two-story residential section and a restaurant, in a state of disrepair, sells to a local owner.

3005 Pontchartrain Dr, Slidell, LA 70458

Type: Retail
Price: $110,000 ($92.20 / SF)
Buyer: SANDHU PROPERTIES LLC
Elifin’s Notes: A retail condo unit, occupied by a cell phone store, sells within a strip center.

11.36 acres Hwy 190, Slidell, LA 70461

Type: Land
Price: Withheld
Buyer: HOLMES PAUL H
Elifin’s Notes: An 11+ acre tract of land sells along Highway 190 in Slidell.

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.