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REAL ESTATE
Pain specialists coming to Bluebonnet building
TOM COOK JOHN C. CROSBY, a pain management doctor, will expand his practice, Louisiana Pain Specialists, from its location at 7922 Summa Ave. to a building he purchased at 4580 Bluebonnet Boulevard in the Elms Office Park. Documents show IPI Properties LLC, represented by Barrett Johnston, as the seller and JCC Holdings LLC, represented by John C. Crosby and Janene Crosby, as the purchaser. The Sept.
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14 sale was brokered by Dex Shill, Erin Caballero and Evan Scroggs at NAI/Latter and Blum, who represented the seller, and Matt Shirley with Saurage Rotenberg Commercial Real Estate, who represented the purchaser. The 5,993-square-foot building was listed for $995,000 and sold for $973,895, or about $162.50 per square foot. The Elms Office Park is a smaller office park on Bluebonnet Boulevard comprising six units. The original building design separated the space into two suites, but at the time of sale both suites were occupied by the seller. The new owner will occupy one of the original suites, containing 3,243 square feet, while the remaining 2,750 square feet will be leased to Louisiana Physical Medicine and Family Practice. ZACHARY TRACT SELLS A property at 22838 Plank Road in Zachary comprising 42.5 acres
sold Sept. 18 for $250,000, or about $5,880 per acre. The seller was represented by Jarrod L. Brown and Jonathan Starns with BHHS United Properties. It was listed at $379,000, or about $8,920 per acre. “The property was improved with some single-family residences that had no real contributory value and we marketed it as a vacant site,” Brown says. The sellers were part of the Hunt Estate and included numerous individuals. The purchasers were Russell Farley and Jacqueline Farley. Perhaps the most interesting aspect of the deal was that the price paid per acre was below what other similar tracts have brought. The property is within the Zachary School District and has the potential to be developed with single-family lots. “We felt it was a bargain for the purchaser at less than $6,000 per acre,” Brown says. The property has excellent frontage on Plank Road and slopes off to the Comite
River in the rear. Some of the land may prove undevelopable, but a 42.5-acre tract for less than $6,000 per acre is a good deal. DAIRY QUEEN ON THE WAY Dairy Queen franchise owner Vicari Investments purchased a 1.66-acre site at 8200 Perkins Road to develop a new DQ. (I am so excited!) The deal closed Sept. 11. The property is an interior parcel on the south side of Perkins Road between Essen Lane and Bluebonnet Boulevard, close to Southside Produce. David Vercher with Keller Williams Red Stick Partners was the listing broker and Clinton Shepard with NAI/Latter and Blum Commercial Lafayette represented Vicari Investments. The site sold for $475,000, or about $6.50 per square foot. Tom Cook of Cook Moore and Associates has been an independent real estate appraiser for more than 20 years.
BUSINESS REPORT, October 2020 | BusinessReport.com
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