A look at how the local commercial real estate market is trending 

Commercial sales transactions and deal velocity in East Baton Rouge Parish trended up in November, according to Elifin Realty’s latest data.

Sales rose 5.74% to 435.7 million in November from $412 million in October. Deal velocity increased by 3.58% to 347, from 335 the previous month.

Multifamily

The multifamily sector saw a 2.95% increase in sales volume last month. The trailing 12-month sales volume was $68.5 million compared to $67.1 million in October. Deal velocity increased 3.3%, and property values increased to $48,600 per unit in November from $47,800 the prior month.

Retail 

Retail saw a significant bump in sales in November following a dip in October. The dollar volume increased 13.83% to $88.6 million, from $77.8 million in October. Deal velocity saw a 5.33% increase, while the average trailing 12-month price per square foot jumped 17.53% to $285.11 in November, up from $242.59.

Office

This sector experienced increased sales volume but a dip in property values. Sales volume increased 4.62%, from $92.8 million in October to $97.1 million last month. Property values decreased slightly, from $146.42 per square foot in October to $144.34 in November. Deal velocity remained steady.

Industrial and land 

Industrial sales volume increased 10.5% to $53.8 million, from $48.7 million in October. The price per square foot dipped slightly from $64.86 in October to $62.96 last month. Deal velocity rose nearly 9%.

Sales increased by nearly 15% in the land sector. The volume totaled $44.2 million last month, compared to $38.7 million in October. The cost per square foot increased 2% to $9.69, up from $9.50 at the end of October. Deal velocity went up 7.14%.