Cook: Industrial site on Airline sells

Published Mar 13, 2012 at 9:04 am (Updated Mar 13, 2012)

A 1.5-acre industrial site at 11997 Airline Highway, just south of the Paretti Jaguar and Land Rover dealership and including two buildings totaling 14,750 square feet, has sold for $950,000, or about $65 per square foot. Bobby Smith and Clay Johnson with NAI/Latter & Blum listed the property on behalf of the estate of Walt McCann. The purchaser was Airline 11997 LLC, a partnership represented by Tim Fox and domiciled in Port Allen. Edward Rotenberg with Saurage Rotenberg Commercial Real Estate represented the purchaser as broker. The new owner intends to lease the buildings. The property had been listed for as much as $1.6 million, and the lower sale price reflects damage caused by copper thieves to the buildings and the electrical wiring. Nonetheless, this is still a good-quality industrial use property, complete with a crane and an average ceiling height in the shop area of 25 feet.

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