Margaret Kennedy and Chris Shaheen of Saurage Commercial Real Estate sold 3.355 acres of vacant land near Walmart on Wax Road for $730,719. The property contains an eighty foot buffer zone from Walmart and 299 feet of frontage on Wax Road. The purchaser, Kimble Development of Central, LLC, is developing the property into a retail center.
According to Chris Shaheen, letters of intent to lease are in place from Hibbett Sports and Phoenician Mediterranean Restaurant. “We are also talking to a vitamin/nutrition retailer, a fitness center, and another restaurant,” Shaheen says. “This is a prime location between Walmart and Central High School. There will also be some additional land adjacent to the retail center the developers have an interest in selling.”
Saurage Commercial Real Estate was founded in Baton Rouge in 1991 with the purpose of providing exceptional real estate services with an emphasis on commercial property and property management. Saurage Commercial Real Estate offers to its clients a full range of real estate services including brokerage, investment advising, development consulting, REO disposition specialists, asset management, fee based consulting, tenant representation, and buyer representation. The staff of professionals includes combined experience of 50 years, as well as CCIM Designees and Candidates and recipients of Master of Business Administration.
