The Ascension Parish commercial real estate market finished the first quarter of 2025 with an increase in sales volume but a slight decline in deal velocity, according to Elifin Realty’s latest data.
Sales increased by 1.87% at the end of March. The trailing 12-month total dollar sales volume was $138.8 million last month compared to $136.2 million at the end of February. Deal velocity declined 2.35%.
The sales volume at the end of March totaled $23 million, $3 million less than sales at the end of March 2024. The report tracked data from four of five commercial sectors. There were no multifamily deals.
Retail
Retail experienced increases in property values and sales volume last month. Dollar volume increased 9.84% to $10.4 million in March from $9.5 million the previous month. The price per square foot rose just over 3% from $206.62. Deal velocity remained steady.
Office
This sector saw increases across the board in March. Sales rose slightly over 6% from $4.8 million earlier this year to $5.1 million in March. Property values increased from $143.69 per square foot to $147.67 last month. Deal velocity increased by 10%.
Industrial
Industrial sales volume increased by 19.66%. The trailing 12-month total dollar sales volume was $47.4 million at the end of last month, compared to $39.6 million in the previous month. The total dollar volume year to date is $16 million at the end of March, compared to $10 million at the end of March 2024.
The price per square foot increased 10.32% to $131.15 last month. Deal velocity dipped roughly 17%.
Land
The sales volume increased 7.17% from $31.6 million in February to $33.9 million last month. The total sales in 2025 is $5 million, more than the $4 million through March 2024. The cost per square foot dropped slightly from $3.39 to $3.06. Deal velocity decreased by 3.23%.
