A 91,000-square-foot office building on Florida Boulevard designed by renowned architect A. Hays Town has been sold for $1.7 million.
GNL Properties of Dallas sold the building at 10225 Florida Blvd. to BR Florida Street Property LLC in a deal that closed Wednesday, said Jim Allen of Saurage Rotenberg Commercial Real Estate. Allen represented the buyer, while Charlie Colvin of Beau Box Commercial Real Estate represented the sellers.
The nearly 5-acre property includes the eight-story office building and two warehouses that boost the total covered space to 102,380 square feet. The building was built in 1967 and had been the home of Blue Cross and Blue Shield of Louisiana and Direct General. Allen said the space has been vacant for about four years.
Developer Bob Dean is an officer with BR Florida Street Property. Dean is a buy-and-hold investor who previously has had several high-profile downtown buildings in his portfolio, such as the Capital House Hotel, which is now the Hilton Baton Rouge Capitol Center; the Commerce Building, which is undergoing redevelopment to turn it into an apartment and retail property; the Hotel King, which is now the Hotel Indigo; and the Baton Rouge Savings and Loan building, which is now the Holiday Inn Express.
Dean has not disclosed what he plans to do with the Florida Boulevard office building, Allen said.
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