KCE Properties LLC has purchased a small office warehouse building at 6951 N. Merchant Drive, next to the Baton Rouge Industriplex subdivision in Commerce South subdivision, from BPJK Ventures LLC.
Grey Hammett, managing broker for Mike Falgoust and Associates, brokered the sale, which closed Nov. 24 for $367,000, or about $83.41 per square foot for the 4,400-square-foot building.
“There is nothing in the Industriplex/Cloverland area for sale under 5,000 square feet,” Hammett says. “With today’s low interest rates it is cheaper to own than rent. We are finding it harder and harder to find buildable dirt to bring more product online, and when we do it is $11 per square foot.”
The building had 2,600 square feet of office space, 1,800 square feet of warehouse space, a secured yard and favored M-1 zoning, all for $83.41 per square foot, Hammett says.
Article Provided by the Greater Baton Rouge Business Report | Tom Cook