Corporate Office Investment Property for Sale

Office for Sale
Catylist Listing ID: 30148892
Property Subtypes: Business Park, Executive Suites, Governmental, High-Tech, Institutional, Medical, Mixed Use, Office Building
Building Size (RSF): 59,605 SF
Gross Land Area: 80,782 SF
Sale Price: $5,795,000
Unit Price: $97.22 PSF
Property Use Type: Investment, Vacant/Owner-User
Building Name: 5615 Corporate Blvd.
Class of Space: Class B
Core Factor: 0.12%
Sale Terms: Cash to Seller
Last Updated: 11/22/2017

Overview / Comments

Saurage Rotenberg is pleased to present the opportunity to acquire a high-rise development site strategically located near the corner of Corporate Blvd. and Energy Dr. in Baton Rouge, LA perfect for investor or owner-occupant.

Located at 5615 Corporate Blvd. in Baton Rouge, LA, the Property is situated in the highly desirable 70808 zip code which includes approximately 708,955 square feet of office space with vacancy rates in the 6.68% range. The Property is one block or more away from the Esplanade Mall, Market Center @ Citiplace, & Towne Center, Baton Rouge's premier Lifestyle Center anchored by Whole Foods Market. The site features outstanding walkability offering access to top retailers, hotels, restaurants and entertainment options. 5615 Corporate is easily accessible to both Downtown Baton Rouge via I-10 and the LSU Campus via College Drive.

This offering features a rare L-shaped lot with 149 feet of frontage along Corporate Blvd. and 173 feet of frontage and access via Energy Drive wrapping a corner with lot totaling 80,782 SF or 1.855 Acres with +/- 188 parking spaces exclusive to the building. Improvements consist of a +/-59,605 SF 8-story corporate Class B office building and on-site chiller.

The Baton Rouge MSA provides stable job growth, low unemployment rates, and stable economies based in state government, higher education, the petro-chemical industry, health and technology industries. Baton Rouge has a comfortable base of demand for office space that comes from being the state's capital region. Employment in office-using industries has surpassed precession figures and is growing at a healthy rate, particularly in the trade, education, health, and information sectors. According to the Bureau of Labor Statistics, close to 3,000 jobs were added in Baton Rouge in 2015 alone, and over the next two years the city is expected to experience higher job growth than that of the rest of Louisiana. This increased demand has tightened vacancies, and absorption has outpaced the cycle's relatively limited deliveries.

The Premiere 8-story 57,116 RSF recently redesigned and renovated corporate office building is located in the high-profile Corporate Blvd. corridor in Baton Rouge's most desirable zip code with easy access to I-10, Downtown and LSU with ample walkability to area businesses. Offering full-service office leases at affordable rates with many floor plans and lay-outs to choose from. Tenant improvements are available. Entire top-floor executive penthouse space available for occupancy with panoramic city views. A real must see!

Renovated in 2016, recent improvements include all new landscaping, exterior signage and painting, renovation of foyer and lobby areas, restrooms and common areas, reconfigured parking lot to add additional parking, and new elevators.

Current Tenants

Tenant Business Name EdGear
Tenant Business Name Sample Brothers, Inc.
Tenant Business Name Ekhaya Youth
Tenant Business Name CVS Pharmacy, Inc.
Tenant Business Name Axiall Corporation
Tenant Business Name Stonetrust Insurance
Tenant Business Name Medical Resource & Guidance, Inc.
Tenant Business Name National Audubon Society

Additional Details

Nearest MSA: Baton Rouge
County: East Baton Rouge
Submarket/Township: 61
Tax ID/APN: 1420440467
Zoning: C-2
Property Located Between: Corporate Blvd. & Energy Dr.
Property Visibility: Excellent
Total Number of Buildings: 1
Number of Stories: 8
Typical SF / Floor: 7,662 SF
Year Renovated: 2015
Roof Type: Flat
Construction/Siding: Concrete
Parking Ratio: 3.3 (per 1000 SF)
Parking Type: Surface
Parking Description: +/-158 to add +/- 30
Total Parking Spaces: 188
Zoning Description: C-2
Sewer Type: Municipal
Easements: Utilities, Other
Legal Description: Lot 5-A-1, Corporate Square Subdivision, Section 94, T7S, R1E, Parish of East Baton Rouge

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,601 105,169 226,079
Median Age: 37.55 34.72 34.19
Households: 4,375 45,862 93,457

Contact

Photograph of Listing Agent

Carmen R Austin

Saurage Rotenberg Commercial Real Estate, LLC Baton Rouge, LA 70809
LACDB Member
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