Tom Cook for the Baton Rouge Business Report | July 22, 2015
The Florida Boulevard building that most recently housed Direct General Insurance, and prior to that Blue Cross and Blue Shield of Louisiana, has been sold.
The building at 10225 Florida Blvd. had been vacant for seven to eight years and was marketed by Colvin for almost that long. The 90,898-square-foot, eight-story structure sold July 1 for $1.7 million to GNL LLC, which was represented by Jim Allen at Saurage Rotenberg Commercial Real Estate.
The building was in relatively good condition, given the fact that it was constructed sometime in 1967 or 1968. It needed an interior facelift and extensive elevator work, but the bones were solid,” Colvin says.
Allen says the property will be used for “undisclosed purposes,” but at a purchase price of less than $19 per square foot, it will be hard to lose.
Jim Allen earned his bachelor’s degree from Baylor University in Waco, Texas and his masters from Louisiana State University. In addition to his multiple degrees he has taken numerous coursework in banking, marketing, accounting, and business law. As a complement to his sales experience, Jim also has 30 years experience in commercial real estate financing.
Saurage Rotenberg Commercial Real Estate is a member of the Baton Rouge Area Chamber of Commerce (BRAC); the West Baton Rouge Chamber of Commerce; the Baton Rouge Better Business Bureau; the Louisiana Commercial Data Base (LACDB); and the International Council of Shopping Centers (ICSC). Several agents, on an individual basis, are members of the Society of Industrial and Office Realtors® (SIOR), the Certified Commercial Investment Member Institute (CCIM); the National Association of REALTORS® (NAR); and the Greater Baton Rouge Association of REALTORS® Commercial Investment Division (CID).