Written by Tom Cook for the Baton Rouge Business Report | July 20, 2016
A pair of Baton Rouge developers have purchased a roughly 2.7-acre site on Cabela’s Parkway in Gonzales to build a 22,000-square-foot shopping center called Redfish Commons.
Mike and Mitch Kimble, through Redfish Commons LLC, bought the Ascension Parish property on July 1 from Carlisle Resort LLC for $1,011,500, or about $8.65 per square foot. The site is sandwiched between Cabela’s and the Comfort Suites Hotel that sits in the shadow of the sporting goods store.
The price is somewhat deceptive, according to Brent Rhodes with Saurage Rotenberg Commercial Real Estate, who brokered the transaction. He says the purchaser will build driveways to allow for access to another 18-acre parcel owned by Carlisle.
“The improved access to Carlisle’s other 18-acre parcel creates value for them, or they would not have sold that cheap,” says Rhodes, adding the new center will have architectural design similar to Cabela’s off Interstate 10, with a “woodsy” exterior. “We have about 87 percent of the center preleased at rental rates that more than justify construction.”
Future tenants include a kitchen/outdoor grill store, a specialty meat store, a Mexican restaurant and a phone store. “We hope to be scraping dirt and begin construction in the next 45 days,” says Rhodes.
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).
