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.
O’Brien Capital Holdings, represented by Kim O’Brien, Daniel O’Brien and Tyson O’Brien, bought the building from Southern Trust for much less than the roughly $700,000 list price.
Lance Ginn, of Waters & Pettit Commercial Real Estate, represented both parties in the deal, which closed Tuesday.
“They really liked the area,” Ginn says of the buyers. “They saw Mid City coming back, and they just thought it’s a good investment.” And even though the building sold for under the list price, Ginn says it’s still a good deal for both parties in the transaction.
The South Acadian building is located doors away from Iron Tribe Fitness, a Birmingham, Alabama-based gym that has expanded into the Baton Rouge area with its first location in Mid City.
Ginn says the office building comprises two apartments and three office suites. The first floor is built out as a large office suite and is currently vacant. Other tenants of the building include Misfit Ink and Cutco Cutlery/Vector Marketing.
Ginn says the buyers’ future plans are unknown at this point, but they do intend to make a few internal and external cosmetic upgrades.
BY: ALEXANDRIA BURRIS
Originally Posted by Baton Rouge Business Report