A 1.7-acre site near the intersection of Interstate 10, La. 73 and La. 621 has been sold for nearly $1.4 million and plans are to put a Valero convenience store and gas station on the site.
CST Brands, a San Antonio-based company that owns, operates or distributes fuel to 3,200 locations in North America, bought the land from LA 73 LLC, an Atlanta-based investment group, said Mark Hebert of Kurz & Hebert Commercial Real Estate, who represented the sellers.
LA 73 LLC bought a 4.5-acre tract in the northeast corner of the Interstate 10-La. 73 intersection just before Hurricane Katrina hit in August 2005. But it wasn’t until recently that a buyer was found for the property. “There’s been a lot of interest, because Ascension Parish gets a lot of traffic,” Hebert said. “But it took a long time to get out of the ground.”
According to Hebert, the plan is to get the convenience store open by the end of the year. LA 73 is looking for someone to sign a ground lease for the remaining 2.8 acres, such as a quick-service restaurant. “There’s so much traffic on the interstate and the land is located at a large stopping point,” Hebert said.
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