Third Building Sells in Speculative Coursey Office Park

The third office building at Market Plaza Office Park on Coursey Boulevard has been sold, says Chris Pike, an investment and development specialist at Mike Falgoust & Associates who represents the speculative development. The same limited liability company that purchased the office park's first two buildings—Coursey Condos LLC—purchased the most recently completed building in Market Plaza for $520,000, according to land records filed with the East Baton Rouge Parish Clerk of Court on Tuesday. The building measures approximately 3,500 square feet. Destiny Interests LLC, the office park's developer, was the seller. The first two office buildings, at roughly 3,000 square feet each, collectively sold for $675,000 in December. Pike recently told Daily Report that the success of the first three buildings in Market Plaza has instilled confidence in the developers, motivating them to push forward with three new spec buildings, all of which should be pouring slabs within the next couple of weeks. The three buildings will total 8,600 square feet and cost over $700,000 to develop, Pike says.

Article Provided by The Greater Baton Rouge Business Report  |  Rachel Alexander