Ascension Commercial Market Improving

A&D Medical has sold a 4.82-acre tract that’s situated one block off the intersection of La. 30 and La. 44 in Park Eastbank Subdivision in Gonzales. The property is located at the dead end of West Eastbank Street (Map it). The sale closed on Oct. 29 for $530,000, or about $2.50 per square foot. A&D Medical had purchased the property in August 2009 for about $1.40 per square foot. The sale was brokered by David Vercher with KW Commercial Real Estate, who represented the seller, and Joe Moore with Re/Max First, who represented the buyer. According to Vercher, interest in the property was fairly strong, reflecting an improving market in Ascension Parish. “I see inventory being absorbed at a tremendous rate in comparison to just one year ago,” he says. “I believe land and warehouse properties in the Gonzales area will become limited in the months to come.” The new owner, RRL Holdings LLC, represented by Marcel Lemoine and John Robert, has not announced plans for the property.