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April 24, 2014

Vacant tract on Pecue between I-10 and Perkins sells for $2.3 million

A 4.1-acre vacant tract of land fronting Pecue Lane between Perkins Road and Interstate 10 was sold on Tuesday to Coastal Investment Enterprises LLC for $2.3 million, says Gaines Garrett of Beau Box Commercial Real Estate, who represented the seller—Alvarez Construction Co.—in the deal.

“We're thrilled about the sale of this tract,” says Carlos Alvarez, the construction company's president, adding that it is one of five commercial tracts the company has. According to Beau Box’s website, the property subtype is office and retail, and Alvarez says he would expect to see such a development go up there.

The buying LLC is represented by Paul Pepitone, who declined to disclose plans for the property when reached by Daily Report. Pepitone also represents SNF Enterprises LLC, which last week completed the purchase of a parcel in nearby Highland Hill Estates for $1.35 million, according to records filed with the East Baton Rouge Clerk of Court. It is not clear whether the the deals are related.

—Rachel Alexander Baton Rouge Business Report

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