While it might be expected that the first phase opening of Electric Depot would ignite further development in that section of the Mid City corridor, it’s too early to determine the overall market effects of the redeveloped property, despite growing interest in the area.
The Louisiana School Boards Association has purchased a downtown office building for $1.2 million and will move its operations there.
Paula Davis, Geordy Waters and Robert Pettit, of Waters & Pettit Commercial Real Estate, represented the buyers and the sellers.
Investors are expressing interest in two Government Street properties for sale across Government Street from Electric Depot, one of which is listed as having a sale “pending.”
Brightside Bar & Grill, a local watering hole south of LSU’s campus, has sold to a pair of investors who plan to renovate the property.
The owners of Walk-On’s Bistreaux & Bar have purchased the Co-op Bookstore building and plan to move their headquarters there.
The more than 27,000-square-foot building at 3960 Burbank Drive was purchased by Walk-On’s Enterprises for $2.7 million in a deal that closed Thursday afternoon, said Robert Pettit III, of Waters & Pettit Commercial Real Estate, who represented the sellers.
A new boutique entertainment center with a bowling alley, live music, restaurant, bar and private event space will open in the fall of 2018 in the Electric Depot, a mixed-used development planned for the old Entergy site at 1509 Government St.
Other buildings at the site will house a healthy living center with yoga, cycling and healthy foods, as well as a microbrewery and pizza parlor; another building will provide a mix of residential, office and retail space.
A family-owned limited liability company has purchased a roughly 9,000-square-foot office building at 1012 S. Acadian Thruway, near Claycut Road, for $580,000 as an investment.