Tom Cook: New details on Gonzales land deal

In last week's column, I reported that a tract of land at the corner of South Purpera Avenue and East Worthy Street in Gonzales sold for $430,000. The area of the property was reported to be 2.537 acres. According to Lloyd Dubuisson, the seller, the area of the property is actually 1.980 acres. This means the price per square foot was actually $4.99 per square foot, rather than $3.90 per square foot, as was originally reported. The property was purchased by Delta Properties, Baton Rouge, and, according to Dubuisson, will be improved with a Delta Community College in the near future. Dubuisson indicated the sale price at $4.99 per square foot was a "deal" for the purchaser, and that he would never have sold for $3.90 per square foot. I regret the error.

— According to Ben Graham with NAI/Latter & Blum Realtors, there has been relatively strong activity in the light industrial market in recent months. Graham brokered two transactions in Cloverland subdivision within the last week. The first transaction was on Cedar Park Avenue and was the sale of an office warehouse facility containing 2,750 square feet. The seller was Southeast Gate Operators, and the purchaser was Carl Soileau of Simplified Processed Solutions. Soileau will occupy the building himself. The sale price calculated to $63.64 per square foot. This sale took place on March 21.

On March 25, Southeast Gate Operators purchased a 5,625-square-foot building on Crestmount Avenue for $260,000. The sale price calculates to $46.22 per square foot. Walt Ketchings with NAI/Latter & Blum Realtors represented the seller, and the purchaser was represented by Graham. The building on Crestmount will require some rehabilitation but was in relatively good condition, according to Graham.

(Appraiser Tom Cook owns Cook Moore and Associates. Reach him at 293-7006 or TCook@cookmoore.com.)

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