Olinde Hardware and Supply Company LLC has purchased the old Blockbuster store on Walker South Road and will transform the former video rental chain’s location into a new concept store.
The company purchased the building at 28195 Walker South Road, across from Walmart, from Birmingham, Alabama-based Foster Family Investments LLC, for $900,000. The price comes out to about $168.75 per square foot.
“We have not made any definite plans on how we will utilize the space just yet,” says Tom Olinde, one of the company’s managing members. “We have several new concepts we are testing, and this location suited our long-range plan.”
Foster Family Investments purchased the building in 2003 for $1.28 million. Blockbuster was already leasing the building and continued doing so after the sale.
The building has been on the market for more than 16 months at $1.05 million.
“We had the building available for lease or sale, but most of the potential tenants and buyers wanted to convert the building to restaurant occupancy, and those users needed more parking than the site could provide,” says Dottie Tarleton, the broker with Stirling Properties in Baton Rouge who represented the seller.
Ricky Hill with NAI/Latter & Blum represented the buyer.
