Coastal Bridge buy in WBR reflects increased industrial interest

It seems that most of the region’s commercial land sales these days are taking place in the industrial sector, the most recent of which being the Nov. 21 sale of an 8.35-acre parcel in West Baton Rouge Parish by Teche Federal Bank. The buyer is Costal Bridge Company. Situated on Safe Energy Drive off La. 1 between Airline Highway and Rosedale Road, the property was listed at $280,000—and it sold within 30 days. Teche, which had acquired the site from Rural Properties LLC, sold it for $275,000, or about $32,934 per acre. Mathew Laborde and Branon Pesnell of Beau Box Commercial Real Estate represented the seller, while Andy Batson—also with Beau Box—represented the buyer. “Within the last 18 months a similar property on the same street sold for around $20,000 per acre, so it looks like property values are increasing,” Laborde says. Costal Bridge has no immediate plans to develop the property.