Exchequer building sold for $995,000

CMC Corporate Solutions, a company that maintains commercial air conditioning and heating systems, has purchased a building at 7070 Exchequer Dr. that will serve as its new offices.

Property transfer records show A&P Real Estate Holdings, LLC paid $995,000 for the building, a former Knights of Columbus Hall.  The principals of A&P are Al LaPorte Jr., the chief executive officer and president of CMC, and Paul Gosserand, who serves as vice president and chief finanacial officer of the business.

Grey Hammett, managing broker with Mike Falgoust and Associates, who represented the buyer, said the property is a 2.6 acre site with a 4,585 square foot freestanding building.  CMC plans on building a 5,000 to 10,000 square foot warehouse on the property. 

Hammett notes that the extra land can be developed into an industrial partk.  "There's an excess of land for them to build out on," he said.  Right now, vacant land is going for $10 a square foot in the Industriplex area, Hammett said.

Bill Gremillion, of NAI/Latter & Blum, represented the sellers, 7070 Exchequer Corp., the holding company set up for the Knights of Columbus Council 4030.

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Article Provided by The Advocate Baton Rouge  |  Timothy Boone