STARTUP
REAL ESTATE
Lake Park shopping center sells “We had one large 3,000-squarefoot tenant vacate and subdivided that space into three 1,000-squarefoot spaces. That brought us a lot of activity,” Canella says. The center is populated with mostly local tenants including Pocorello’s Cupcake Junkie. 11800 INDUSTRIPLEX BLVD. This is an interesting deal because of its history. The building sold June 8 for $430,000, or about $66 per square foot. This is Unit 1 in the Metro Center, one of the THE LAKE PARK strip shopping first, if not the first, light-induscenter sold June 7 for $1.37 million, trial condominium developments or about $110 per square foot. Joey in Baton Rouge. The Metro Center Canella with Stirling Properties was constructed on a parcel was the listing agent and repwithin the Industriplex subdiviresented the seller, Parkland sion. The subdivision was develProperties LLC. The purchaser, oped in the early 1980s by Jim Oriental Pearl BR LLC, was repreSumrow, and was marketed by the sented by Steve Gao with REMAX real estate brokerage company First. The center has remained Reynolds, Sumrow and Scruggs. Issue Date: July 2021 Ad proof #2 fairly occupied and Mike Falgoust was an agent with • Pleasewell respond by e-mail or fax witheven your approval or minor revisions. • AD WILL RUN AS a IS 92% unless occupancy approval or final revisions 24 hours and marketed much maintained rate are received the within company from receipt of this proof. A shorter timeframe will apply for tight deadlines. during the pandemic. of the development. • Additional revisions must be requested and may be subject to production fees.
TOM COOK
“We were marketing the development in the early 1980s, and I remember the interest rate was 18 percent,” Falgoust says. “Mr. Sumrow built the Metro Center speculatively, and it was the first tilt-wall concrete building built speculatively.” Scott Guidry with Derbes Falgoust Commercial Real Estate acted as listing agent for the seller, Reynolds Metro LLC. “This is the last unit owned by one of the original owners in the Metro Center project,” Guidry says. The buyer was 8865 Property Hold LLC. Phillip Cazayou with Pennant Real Estate represented the purchaser as broker. Representing 8865 Property Hold LLC was Kelwin Clark, president of ISCOLA Inc., an industrial valve company that also owns a building on Sunbelt Court. ISCOLA will expand into the Metro Center unit. ANTONIA CONDO PLAZA UNIT SELLS
Landsaf Properties LLC, represented by Jason Safford, sold a 2,211-square-foot unit at 4463 La. 1 South in Brusly. The sale closed June 1 for $420,000, or about $198 per square foot. Donnie Jarreau with Jarreau Real Estate acted as broker for the seller. Safford developed Antonia Condo Plaza and has been successful in generating occupants like the Lake After Hours clinic and Peak Performance Physical Therapy. The purchaser was Broaden Properties LLC, represented by Tory Deshotels. Clinton Shepard with NAI/Latter & Blum Commercial represented the purchaser as broker. “The new owner intends to continue to rent the property to Lanoix Insurance and has no plans to change the property at this time.” Shepard says. Tom Cook of Cook, Moore, Davenport and Associates has been an independent real estate appraiser for more than 20 years.
Carefully check this ad for: CORRECT ADDRESS • CORRECT PHONE NUMBER • ANY TYPOS This ad design © Louisiana Business, Inc. 2021. All rights reserved. Phone 225-928-1700 • Fax 225-926-1329
LEADING THE WAY WITH SPECIALIZED CARE FOR CHILDREN WITH MEDICALLYFRAGILE HEALTH CONDITIONS LEADERS CARING FOR OUR FUTURE LEADERS! Congratulations to our own Renita Williams Thomas for graduating from Leadership Academy!
In Loving Arms Pediatric Day Health Center offers a combination of Skilled Nursing, Education and Therapy in a child-friendly environment, likened to a day care setting. Our team of nurses, therapists and early childhood education specialists are trained to handle various cases with the utmost precision, dedication and competence. Health services and transportation are provided. if you are a physician looking for a patient referral source, please give us a call.
INLOVINGARMS.COM | 225.359.9777 | 2315 HARDING BLVD. BATON ROUGE, LA 70807 Daily-Report.com | BUSINESS REPORT, July 2021
28-31 SU Tom Cook-BottomLine.indd 29
29
7/1/21 10:57 AM
