A block of 10 office condominiums near the busy Perkins Road-Essen Lane intersection has been sold to a group of Baton Rouge investors for nearly $1.45 million.
Zeal Property LLC bought the units at 7520 Perkins Road from QPS of BR Commercial LLC in a deal that was filed Friday with the East Baton Rouge Clerk of Court’s office. Zeal is represented by Quan Wang and Yanfu Zhao of Baton Rouge.
Steve Legendre of Sperry Van Ness, who along with his colleague Joey Canella represented the buyers, said the property was purchased as an investment. The total square footage of the units is 12,901 and they are fully occupied by tenants such as Frankie Marcello’s Restaurant and a local Edward Jones office.
“The properties are all occupied long-term and they’ve had the same tenants for quite some time,” Legendre said. Because the condos have a mix of office and retail space, if space does become vacant, it will be easy to find a new occupant, he said.
Scot Guidry of Mike Falgoust & Associates represented the sellers. The good condition of the property, along with the proximity to busy parts of the city, is why the space was fully occupied, he said.