The Albertsons grocery store at the corner of Essen Lane and Perkins Road has been sold for $11.6 million to a group of local investors.
7515 Perkins LLC purchased the nearly 5.5-acre site in a deal that was filed Thursday with the East Baton Rouge Clerk of Court’s Office. The group, which has the same name as the store’s address, lists Michael DiVincenti Jr. as its officer. Court documents show several investment groups and family trusts make up 7515 Perkins.
The seller was BRNK Baton Rouge LLC, which was set up by Los Angeles-based Balboa Retail Partners. BRNK bought the store in July 2013 for nearly $7.8 million.
Walt Ketchings, an agent with NAI/Latter & Blum who represented the buyers, said the store was purchased strictly as an investment. Albertsons has a long-term lease on the 62,000-square-foot building. The real estate for a Valero gas station next to the supermarket was included in the sale, but Ketchings said it has a different lease than the grocery store.