Bob Brooks Purchases Office Building:

Bob Brooks School of Real Estate has long been a Baton Rouge institution. Brooks' school is now housed on Pecue Lane. Brooks has recently purchased another building on South Sherwood Forest Boulevard and will relocate his school there. Brooks says when he built the building on Pecue, he had 200 in-class students to take real estate and insurance courses. But with the advent of the Internet, more and more students want online courses. So Brooks began streaming his classes on the Web. While this increased his business, it decreased the number of students who actually attended class in person. Consequently, Brooks recognized, there was no longer a need for large classroom space. His South Sherwood building purchase was brokered by Scot Guidry and Mike Falgoust at Sealy & Falgoust Real Estate Company. According to Guidry, the 6,974-square-foot building sold for $435,000 on Thursday. The seller was Shiflett Properties. The building was formerly occupied by Burns and Company Real Estate. Brooks intends to renovate and modernize the new location.

Tuesday, January 26, 2010 / B.R,. Business Real Estate / Tom Cook, MAI

Baton Rouge Powder Coating expands:

Oliver Property Investments, which owns Baton Rouge Powder Coatings, a metal coating-application company, which serves residential, commercial and industrial customers, purchased an office warehouse on Wooddale Boulevard for an expansion. They were located on South Choctaw Drive, but needed more space. Scot Guidry with Sealy & Falgoust Real Estate Company brokered the transaction. The 1.72-acre site was improved with two separate structures, a detached 2,066-square-foot office building and a metal office warehouse building containing 7,200 square feet. The sale took place last week for $292,500. This calculates to about $31.60 per square foot. According to Guidry, this was an excellent buy when you consider the fact the site has 1.72 acres that was stabilized and concrete paved.

Tuesday, December 22, 2009 / B.R,. Business Real Estate / Tom Cook, MAI

Neighbors Federal Credit Union purchases site for new branch

Several local credit unions have been expanding in the Baton Rouge market. Neighbors Federal Credit Union has joined that number with the purchase of a site on Coursey Boulevard at Hickory Ridge. The sale took place for $722,660 or about $10.50 per square foot for the 1.58-acre site and closed Thusday. The seller was SVNA Investment. Mike Falgoust and Justin Langlois with Sealy & Falgoust Real Estate represented the credit union and Ben Skillman with Skill Real Estate represented the seller. According to Langlois, the site was zoned C-2 and was located outside of the flood zone. The property made up the hard corner of Coursey and Hickory Ridge. The site was protected by a traffic light and had approximately 225 feet of frontage on Coursey. “This is an exceptional buy for a site on Coursey with signalized access. Where can you find a hard corner on Coursey for $10.50 per square foot?” says Langlois. Neighbors intends to build a new branch on the site next year.

Tuesday, December 15, 2009 / B.R,. Business Real Estate / Tom Cook, MAI

Company expansion:

Sealy & Falgoust Real Estate is adding commercial investment properties and multi-family developments to its commercial real estate brokerage services.

Sealy & Falgoust added property manager Greg Accardo to focus on property management and real estate brokerage. The company said in a press release it made the move because clients are increasingly requiring expertise in managing their real estate investment properties.

Sunday, Nov. 15, 2009 / The Advocate Business Briefs

Baker storage facility sold for $2.5 million:

All About Storage, a 50,000-square-foot self-storage site in Baker, has been sold for $2.5 million. Tellus Development, based in Gulfport, Miss., bought the property in a deal that closed Monday, says Randy Herring of Sealy & Falgoust Real Estate. Tellus owns 34 self-storage units from Texas to Florida. The company plans to expand All About Storage, and bought a three-acre lot next to the facility on Groom Road, Herring says. All About Storage is more than 90% occupied

Tuesday, August 25, 2009 / B.R. Business Daily Report / Timothy Boone

The Mill planned for Zachary:

Notoco Holdings purchased a 1.12-acre site off Old Scenic Highway in the Zachary Commerce Center on the corner of La. Highway 64 and La. Highway 964. Notoco has purchased a site for the development of a new family restaurant called The Mill. The site sold for $485,380 or $9.95 per square foot, in a deal that closed Thursday. Notoco Holdings was represented by Suzi Gautreaux at Keller Williams Realty Red Stick Plus. The seller, Old Scenic Highway was represented by Randy Herring at Sealy & Falgoust Real Estate. According to Gautreaux, the property will be improved with a 7,000-8,000-square-foot family-style restaurant that will have private rooms for meetings and banquets, and a patio for outside dining. Construction will begin sometime in the next two months. The shopping center is part of a large development done by Old Scenic Highway, which includes an apartment complex and retail center. Within the retail center there were several sites left vacant and made available for sale. One site was purchased and improved by Sammy's restaurant.

Acadian Development of Central, represented by Justin Langlois at Sealy & Falgoust Real Estate, sold a site to the Dow Louisiana Federal Credit Union just off the northeast corner of Wax Road and Sullivan Road. The 1.30-acre site is an L-shaped lot with access to Wax Road. The sale took place for $674,231 or about $12 per square foot. Marc Barker with NAI/Latter & Blum Real Estate represented Dow Louisiana. Dow intends to develop another credit union branch on the site. The sale originally was worked out for a slightly smaller tract at a higher price per square foot, but the Louisiana Department of Transportation and Development would not grant a curb cut. Additional land had to be purchased to satisfy the DOTD.

Tuesday, August 18, 2009 / B.R,. Business Real Estate / Tom Cook, MAI

Industrial site sells:

A few years ago, a portion of the site that formerly housed Ciba-Geigy in St. Gabriel was purchased by ABIC, an investment group. The plant site was more than 150 acres, but only 24 acres had been developed with actual plant operation. The remaining area was held for future production. Recently a 10-acre parcel of the property was sold off by ABIC Holdings to LBTSW Realty for $500,000. The site fronts on the Ciba-Geigy access road, just off La. Highway 30. The new owner intends to construct a truck terminal on the site. The sale closed on July 28, and the purchaser was represented by Don Hanna with Sealy & Falgoust Real Estate. ABIC Holdings was represented by Edward Rotenberg at Sealy & Falgoust Real Estate. The ABIC still has large vacant tracts available for development. The plant site is available for lease or purchase. The plant site improvements include a 43,000-square-foot warehouse zoned for heavy industrial use, and a 16,000-square-foot office building. The site also has river, rail and pipeline availability. Interest in the remainder of the site has been good, according to Rotenberg.

Geaux Clean, a local carwash operator, has purchased a site on Sullivan Road near Wax Road. The 42,611-square-foot site sold Wednesday for $426,110 or about $10 per square foot. The listing agent was Justin Langlois at Sealy & Falgoust Real Estate. The selling agent was Chris Pike at Latter & Blum Realtors. The seller, Acadiana Development of Central, had purchased a larger tract and subdivided it into smaller sites. This nearly one-acre site is a sell-off of the parent tract. The new owner will begin construction of a touchless car wash within the next 60 days.

Tuesday, August 11, 2009 / B.R,. Business Real Estate / Tom Cook, MAI

Centurion Plaza shopping center sold:

Last year, Scot Guidry with Sealy & Falgoust Real Estate Company, sold a vacant tract on O'Neal Lane, just north of Interstate 12. The property was purchased by Centurion Plaza, then improved with an 8,800-square-foot retail building. Guidry and Justin Langlois listed the retail building for sale. Friday, the building sold for $1 million, or $113.65 per square foot, to AFS Resources. The empty center is up for lease, but there are no tenants yet. According to Guidry, there is an additional 12,000 square feet of excess land that could be improved in the future.

Tuesday, July 21, 2009 / B.R,. Business Real Estate / Tom Cook, MAI

Zachary shopping center, land sold

A 2.8-acre tract that includes a 12,000-square-foot shopping center on Old Scenic Highway in Zachary has been sold for $1.5 million. Jett's Enterprises, a Norwood company, bought the property from Old Scenic Highway in a deal filed Wednesday. The shopping center, which is partially occupied, used to be the home of Sammy's Grill. Randy Herring of Sealy & Falgoust Real Estate, who brokered the deal, says the property includes 1.79 acres behind the shopping center. Jett's, which operates convenience stores, bought the land for future development, he says. "They're not sure what they're going to do right away," Herring says. "It's right in the center of Zachary."

Thursday, July 16, 2009 / B.R. Business Daily Report / Timothy Boone

Retail building on Old Hammond Highway sells

A retail building on Old Hammond Highway near the entrance to The Woodlands Subdivision has been sold. The 25,300-square-foot, single-story shopping center was sold to Pineda Properties for $1.3 million, or about $51 per square foot. Bill Jeansonne and Justin Langlois with Sealy & Falgoust Real Estate brokered the transaction. The purchasers intend to rehabilitate the center and occupy it with a small grocery/convenience store and a restaurant. The property was owned by American Gateway Bank and had been occupied by Dollars-N-Cents, a discount store, and Fetter's Cleaners. According to Jeansonne, a significant amount of space was vacant at the time of purchase, which was conducive to the owners operating their own restaurant and convenience store in the center. The sale closed last week. Rehabilitation should take place shortly.

Tuesday, June 23, 2009 / B.R. Business Real Estate / Tom Cook, MAI

Office warehouse brings high price:

An office warehouse at 6921 N. Merchant Court has been sold with a high price per square foot. According to Grey Hammett of Sealy & Falgoust Real Estate, who brokered the transaction, the 3,350-square-foot building sold for $401,000, or $119.70 per square foot. The building had a ratio of 60% office and 40% warehouse. The seller was State Bank and Trust and the buyer was LSL Interests. According to Hammett, the new owner's computer networking company, Innovative Systems & Services Inc., will occupy the building.

Tuesday, April 28, 2009 / B.R. Business Real Estate / Tom Cook, MAI

Garcia Roofing buys property for B.R. location:

Garcia Roofing and Sheet Metal, a fast-growing Prairieville business, has purchased a building near the East Baton Rouge-Ascension parish line for $1.1 million. The company bought the former Bailey Lumber building at Airline and Opportunity Drive, says Scott Guidry, an agent with Sealy & Falgoust. Jonathan Woolley, Garcia's CFO, says the plan is to remodel the building and move its re-roofing and commercial division in there. The work should be completed in about 90 days. The move allows Garcia to consolidate some of its operations. Woolley says the new location won't lead to additional hiring, but about 30 employees will work out of the 10,000-square-foot building, which has a 38,000-square-foot fenced lot.

Friday, April 17, 2009 / B.R. Business Daily Report / Timothy Boone

Beauregard Town Property Sells:

Cole Ogden with Sealy & Falgoust Real Estate sold a converted home in Beauregard Town to Louisiana Hometown Network. LHN is a production company that video tapes public meetings like the East Baton Rouge Planning Commission, Metro Council and the zoo that professes to be our East Baton Rouge Parish School Board. The company bought a house at 638 Penalver a few blocks away from the courthouse. The property was purchased from Michael Veazey for $185,000 or about $148 per square foot for the 1,246-square-foot residence. According to Ogden, the property has four onsite parking spaces, which are often hard to come by in Beauregard Town. Ogden says LHN was renting space in another location, but the company wanted their own building.

Tuesday, April 7, 2009 / B.R. Business Real Estate / Tom Cook, MAI

New Hotel for Denham Springs:

Mahi purchased a 1.2-acre site on Home Depot Drive in Denham Springs for the construction of a new hotel. The site sold for $425,000 or about $8 per square foot. Danny Watts and Scot Guidry at Sealy & Falgoust Real Estate brokered the sale. The site is restricted to 20-foot high structures, so the new hotel will be no more than two stories. The property adjoins the Home Depot near Interstate 12 and has 170 feet of frontage on Home Depot Drive. The new owner could not be reached to determine what franchise will occupy the new hotel.

Tuesday, March 31, 2009 / B.R. Business Real Estate / Tom Cook, MAI

Retail Center Sells in Denham Springs:

Shriver Investment Properties sold the A Plus Retail Center on La. 16 in Denham Springs to A Plus Retail Center LLC. Justin Langlois and Steve Legendre at Sealy Falgoust Real Estate brokered the property. The sale closed last week for a total price of $857,000. The center had a leaseable area of 6,000 square feet, so it sold for a total price of around $143. According to sources close to the transaction, this represented an almost 10% return to the owner, much better than the stock market is doing right now.

Tuesday, March 24, 2009 / B.R. Business Real Estate / Tom Cook, MAI

Teach for America relocates: 

Teach for America has relocated its Baton Rouge headquarters from North Sixth Street to the old I.M. Causey & Co. antiques building at 501 Government St., brokers involved in the deal said Tuesday.

Scot Guidry and Justin Langlois of Sealy & Falgoust Real Estate said that last week, Teach for America’s eight fulltime and four part-time staffers moved into two first floor suites that total about 4,000 square feet. The 16,300 square foot building’s second floor is occupied by Grace & Hebert Architects, which paid $1.3 million for the 110 year old building in 2007 and began extensive renovations.

Wednesday, Feb. 11, 2009 / The Advocate Business Briefs

Living Foods sells building to neighbor for $300,000

Living Foods has sold its building in the Perkins Road Overpass area. Neighborhood resident Ken Jacob bought the 2,300-square-foot building for $300,000, though he said he is not yet sure what he’s going to do with it. He said he is giving Living Foods 45 days to finish liquidating its inventory and at some point within the next few months he will go through the building with an architect and decide what to put there.

For now, however, Jacobs said he simply saw the building as a wise investment in a part of town he considers to be on the rise. Commercial property in the Perkins Road Overpass area, he said, comes available only rarely and he wanted to jump on the opportunity. “Almost nothing (commercial) changes hands there,” he said.

Danny Watts, who brokered the deal for Sealy & Falgoust Real Estate, said interest in the property was high. It was listed at $299,900 and was under contract within 48 hours.

Rory and Soyla Nettles, who have operated Living Foods since 1980, decided late last year to close, saying it is too hard competing with larger stores and health-food chains.

Thursday, February 5, 2009 / The Advocate / Chad Calder

Guidry named top producer for 2008

Scot Guidry, CCIM, an agent with Sealy & Falgoust Real Estate, L.L.C., Baton Rouge, has been named the Top Producer for 2008 for all commercial real estate sectors.

Guidry has been an associate of the firm since February, 2003.

Guidry is a member of the Commercial Investment Real Estate Institute as well as the Commercial Investment Division of the Greater Baton Rouge Board of Realtors. Guidry has expertise in commercial real estate brokerage, marketing, consultation and real estate investments.

Sunday, February 1, 2009 / The Sunday Advocate / The Real Estate Corner

Celtic Group acquires property

The Celtic Group continues to acquire property near its production studio near Interstate 12 and Airline Highway. Monday, Celtic Group purchased an 3,114-square-foot office building at 9854 Professional Boulevard for $245,000, or $78.68 per square foot. The sale was brokered by Scot Guidry with Sealy & Falgoust Real Estate. According to Guidry, there are no immediate plans for the building.

Justin Langlois and Mike Falgoust of Sealy & Falgoust Real Estate teamed to sell a 12,000-square-foot office warehouse building on Cherry Hill Avenue. The building sold for $365,000, or about $30 per square foot, in a deal that closed Wednesday. The seller was Inter Nos Walker Ltd. The purchasers were Robin and Kelly Hudson, who bought the building as an investment. The property is located in the South Park subdivision, off Airline Highway and near Cedarcrest Avenue. Langlois says the location should make the building easy to rent.

Tuesday, December 30, 2008 / B.R. Business Real Estate / Tom Cook, MAI

Local organic food store to close

After 28 years in business, Living Foods is set to close. Rory Nettles, who owns the health food store with his wife, Soyla, says its time to close the store, on Perkins Road near the overpass. "When we opened, we were one of the few natural food stores in town," Nettles says. But the market has been saturated since Whole Foods came into Baton Rouge and national retailers, from Wal-Mart to Albertsons started carrying organic produce. "The market has become saturated," Nettles says. "We've run our course, and it's time to do other things." Nettles has listed the 2,300-square-foot building with Sealy & Falgoust Real Estate for $299,000. "This is a very high demand area and a historic business district," he says. "You look at the businesses around here—George's, Ivar's, Pinetta's, Parrain's—they're all booming." Living Foods will remain open until the property is sold.—Timothy Boone

Dec. 16, 2008 / B.R. Business Daily Report / Timothy Boone

Creekstone Sells First Building

...a 4,690-square-foot building in Creekstone Office Park sold. The sale price was $797,300 or $170 per square foot. Steve Legendre, CCIM brokered the deal. The remaining buildings in Creekstone, located on Lake Sherwood Avenue North near American Way, are for sale at similar prices. Creekstone was designed for a total of six office pad sites. Legendre says a third building is currently under construction, and three pad sites will be developed as demand escalates.

Dec. 2 - Dec. 15, 2008 / B.R. Business Report / Tom Cook, MAI

Melrose East apartment complex sells

Adventure Realty has purchased a 37-unit apartment complex on North Carrollton Avenue in Melrose East for $975,000, or $26,351 per unit. The seller was Accardo Holdings. According to Scot Guidry with Sealy & Falgoust Real Estate, the property consisted of eight two-bedroom units, 18 one-bedroom units and 11 studios. Guidry says the property was attractive to the purchaser because well maintained and near full occupancy...

Tuesday, October 28, 2008 / B.R. Business Real Estate / Tom Cook, MAI

Jamestown Office Complex Sells:

Guidry also represented the sellers as three office buildings on Jamestown Court sold for $850,000 in a deal that closed Monday. Morrie and Charles Eakin sold the 27,000 square feet of office space off College Drive to a company known as 4919 Jamestown, which was represented by Sam Koster and Mark Estep. Guy Gauthreaux with Coldwell Banker Mackey Company brokered the deal for the buyers. Guidry says the purchasers are young and aggressive, and they recognized the upside potential in the project. "Where can you find that type investment for $31.50 per square foot?" he says. The new owners intend to rehabilitate the exteriors and begin leasing immediately; current tenants include Weiser Security Services and Broadband IP. "The property will have some significant vacancies by the first of November, but the market will be looking for inexpensive rents," Guidry says . "The latest tenants have leased at $12 per square foot, and we expect to rent the vacant space relatively quickly.

Tuesday, October 28, 2008 / B.R. Business Real Estate / Tom Cook, MAI

Land on Greenwell Springs sold for apartment development

A 12.6-acre tract on Greenwell Springs Road has been sold to a Louisville, Ky., development company for $1.3 million. LDG Development bought the land, between North Sherwood Forest Drive and Monticello Boulevard, with plans to start construction on Mallard Crossing, a 188-unit apartment complex, by the end of the year, says Ty Gose of NAI/Latter & Blum, who represented the buyer. Gose says the development will be affordable housing, aimed at tenants such as teachers, firefighters and police. Danny Watts of Sealy & Falgoust Realtors represented the sellers. Mallard Crossing has been in the works for awhile, but the project was delayed because of trouble in the credit markets. LDG has built apartment complexes in Louisville and Indianapolis and is working on a project in New Orleans.—Timothy Boone

Tuesday, August 5, 2008 / B.R. Business Report

Retail center in Gonzales sells

The Northgate Plaza Shopping Center on Airline Highway across La. Highway 74 from Sno's Restaurant in Gonzales sold Thursday for $2.2 million. The property, with almost 18,650 square feet, was purchased by a New Orleans investor operating under the name of Northgate Plaza Shopping Center. Justin Langlois and Ellis McKnight with Sealy & Falgoust Real Estate were the listing agents. According to Langlois, tenants in the center include Kamal's Kafé, Anytime Fitness, Nail Divas and Onezia's Cigar Bar. Langlois says the center, which opened in 2005, is in excellent condition. Langlois says the purchaser will achieve a 9.9% capitalization rate based upon the income the center generates.

Tuesday, July 22, 2008 / B.R. Business Real Estate / Tom Cook, MAI

Perkins property sold for seafood market

Second location for LA Boilers: A 1.73-acre tract on Perkins Road near the Associated Grocers offices has been sold for $400,000. LA Boilers and Seafood Market bought the property in a deal that closed Thursday. LA Boilers, which has a location on O'Neal Lane, plans to build its second market, says Randy Herring of Sealy & Falgoust, who represented the buyers. Mark Hebert of Kurz & Hebert Commercial Real Estate represented the sellers, the Anselmo Childrens' Trust.

Tuesday, June 3, 2008 / B.R. Business Report

Lowe's to purchase Wal-Mart site

Lowe's intends to purchase the Wal-Mart site located on Plank Road near Groom Road. Several years ago, Wal-Mart left the building on the northwest corner and built a Wal-Mart Supercenter near the southwest corner of Groom and Pettit roads. Lowe's now has the location under contract, and says it will be ready to open in 112 days. The surrounding area will benefit from the new Lowe's facility. Lowe's has been looking for a new location for the northern part of East Baton Rouge Parish to take advantage of the growth in the Baker-Zachary market. The deal was tenuous because of Lowe's scaling back nationwide due to the slowing U.S. economy, but now appears to be moving forward.
An office warehouse located at 11063 Cloverland Ave. sold Friday for $675,000. The seller was AS&E Holdings, and the purchaser was Baton Rouge Millworks. Justin Langlois with Sealy & Falgoust Real Estate represented the purchaser and seller in the transaction. The new owner will occupy the building, Langlois says.

Tuesday, April 1, 2008 / B.R. Business Report

DeAngelo's building sold

The building at Coursey and Hickory Ridge boulevards occupied by Louis DeAngelo's Casual Italian Dining has sold for $1.06 million, or $212 per square foot for the .75-acre site. The buyer was SGL Enterprises, represented by Angele Luedtke. The 5,000-square-foot building was owned by Mercan Rental, represented by Chris D'Agostino. Edward Rotenberg with Sealy & Falgoust Real Estate Company and Beau Box with Beau Box Commercial Real Estate brokered the transaction. The property also included a billboard that brought in revenue, and contributed to the sale price. The property was purchased with a lease in place to DeAngelo's and there are no plans to relocate the restaurant.
The office warehouse building at 37456 La. Highway 30 in Gonzales has been sold. The seller was Thomas M. Allen, and the buyer was K Investments of Louisiana, a New Jersey-based environmental company. The 7,740-square-foot building contains 4,000 square feet of office space, and has a 3,740-square-foot warehouse with 20-foot eave heights. The property is situated on 2.2 acres, a portion of which was stabilized. The rear of the site also was improved with a cellular tower leased to American Tower Corporation. The building is about 10 years old, but has been renovated, according to Grey Hammett with Sealy & Falgoust Real Estate. Hammett indicated the building was in relatively good condition. The purchaser was represented by Beth Alford of ReMax Properties in Prairieville.

Tuesday, March 25, 2008 / B.R. Business Report

Final Cloverland units sold

When Grey Hammett with Sealy Falgoust Realtors visited Miami last year, he returned to Baton Rouge with a concept that had not been tried in the local market. Hammett’s idea was to build office warehouse condominiums (below) and make them available for sale. He chose a site at Cloverland Avenue and Cloverland Court, off Airline Highway, for the construction of a 12,000-square-foot complex, which was subdivided into 1,500- to 2,300-square-foot units.

The construction was significantly better than a standard office warehouse. Hammett used post tension slabs, the office areas have 10-foot ceilings with wide crown molding, doors are glass storefront-type and the exterior has architectural metal. The eave heights in the warehouse area are 18 feet.

According to Hammett, the office warehouse condos have all sold for about $98 per square foot, including the most recent sale, which took place Feb. 8. AMH purchased Units D and E, about 4,408 square feet, for $432,000.“The cost of operating is about $130 per month,” Hammett says, which includes exterior maintenance, insurance, water and sewer service. All of the units were sold before construction was completed, and Hammett intends to develop a similar project in the future.

Tuesday, February 26, 2008 / B.R.  Business Report

Retail building on Florida sold

The Fred Heroman's Flowers & Gifts building on Florida Boulevard sold last week. The seller was Fred W. Heroman and the buyer was 6868 Florida Boulevard LLC. The two-story property sold for $655,000 and included 17,200 square feet of retail space, which comes to about $38 per square foot. Even with two vacant suites upstairs, the entire building is 90% occupied.

According to Justin Langlois of Sealy Falgoust Realtors, who brokered the transaction, the property was sold with a 3-year lease back from the seller at above a 9% capitalization rate. Fred Heroman's will continue to operate the florist business out of the location, but market conditions were suitable for a sale.

Tuesday, February 12, 2008 / B. R. Business Report

American Gateway purchases Gonzales site

American Gateway Bank purchased a 1-acre site at Highway 30 and Ruby Avenue in Gonzales for $700,000, or about $16 per square foot. The seller was Vince Diez Properties Inc. Diez developed a commercial park along Ruby Avenue. American Gateway was represented by Don Hanna with Sealy Falgoust Real Estate, Diez says. Diez intends to roll the property into a 1031 exchange, and he is still attempting to identify a property for the exchange. Diez has been involved in several high-end investments, including the One American Place property in downtown Baton Rouge.

Tuesday, January 22, 2008 / B.R. Business Report

Grace & Hebert purchases Causey building

Grace & Hebert Architects completed the purchase last week of the I.M. Causey and Co. furniture building on Government Street for $1.3 million, or about $80 per square foot. According to Scott Guidry with Sealy & Falgoust Real Estate, the 16,293-square-foot, two-story building will be renovated. The architects plan to occupy about three-fourths of the building and have about 5,000 square feet available for lease. Given the quality of Grace & Hebert's work, this should be one of Baton Rouge’s finer downtown buildings after renovations are completed.

Tuesday, December 18, 2007 / B.R. Business Report