Baton Rouge-based Cajun Industries purchased an office property near its headquarters on Airline Highway for a tick below $2 million.
The company purchased the property through Grigsby Properties LLC, represented by Andrew Lopez from RS Airline LLC, for $ 1.95 million, according to a deal filed Thursday with the East Baton Rouge Parish Clerk of Court’s office.
Michael Rice represented the seller. Lopez is the vice president of Cajun Industries.
Five-S Group had previously been leasing the property as its headquarters before it purchased the 19,000-square-foot Pelican Financial Plaza office building in November for $3.3 million to expand its operations. Five-S Group left the Airline location in December.
Cajun Industries’ headquarters and the purchased property are separated by one 2.5-acre lot that houses a cemetery.
RS Airline purchased the property from The Lemoine Company, doing business as Jefferson Street Partners LLC for $1.3 million in 2020. Rice was the vice president at Lemoine at the time. He is currently the president of disaster services at the company.
Cajun Industries unveiled plans earlier this month to develop a module assembly yard at the Port of Iberia in New Iberia. The facility will feature 61 acres, with 33 acres developed during the first phase. Modularization reduces on-site construction risks by moving a large portion of the work off-site.
Lopez was unable to be reached for comment about the transaction before this morning’s publication deadline.
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