Chris Gautreau for The Advocate | September 2008
Commercial broker Hank Saurage [Saurage Commercial Real Estate] paid $750,000 Tuesday for the old Abita Water Co. warehouse facility on Oxford Place Drive near Airline Highway and Interstate 12.
Saurage said the Oxford site was a good investment, considering its multiple options for development and leasing. Moreover, Saurage said, he owns an adjacent six-acre site leased to Community Coffee, which is held by the Saurage family.
“Since we own the land next door, having this gives us control of the property and good protection of our current investment,” he said. The 1.8-acre site includes about 1,300 square feet of office space, 4,400 square feet of warehouse space and a 3,700-square-foot canopy that can be converted to additional warehouse space.
Saurage said the main warehouse will be leased to a new tenant. In addition, he said, the property has about 31,000 square feet at the corner of Oxford and Partridge Lane that can be parceled and developed separately. Plans are still in the works, but “we’d like to have some deal put together by the end of the year,” Saurage said.
The property has been vacant since Abita Water was acquired last year by DS Waters of America Inc. in Atlanta.
DS Waters, also the parent of Kentwood Springs, bought Abita in May 2007 from Reily Foods in New Orleans.
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.