LWCC has purchased another tract of land at the Acadian Thruway/Interstate 10 intersection, buying the property that’s the home of Mestizo Restaurant for nearly $2.2 million.
Mestizo has a long-term lease on the building, so the restaurant will continue to operate as is, said Seth Irby, a spokesman for the private worker’s compensation insurance company.
The Kavanaugh and Tudor Co., which has an Alexandria mailing address, sold the site at 2323 South Acadian to LWCC in a deal that was filed Wednesday with the East Baton Rouge Clerk of Court’s office.
Irby said the purchase of the 1.2-acre site gives LWCC access to Acadian Thruway.
“That was the main incentive for us when we were approached by the owners,” he said. “We didn’t own access to Acadian, so it was a no-brainer for us.”
LWCC bought the former LaQuinta Inn, which was behind Mestizo at 2333 S. Acadian, for $4.4 million in November 2019. In February, the company paid $4.1 million for the Red Roof Inn at 2445 S. Acadian.
The company has demolished the LaQuinta and is the process of tearing down the Red Roof Inn. Irby said LWCC is focused on tearing down the hotel and hasn’t developed any long-term plans for the site. With the acquisition of the Mestizo building, the company will own 7.2 acres at the intersection.
“There’s no timetable,” he said. “We’re not in a rush to make a decision. We want to consider all of the options.”
LWCC is wrapping up a $22.7 million renovation of its offices at 2237 S. Acadian. The work should be completed in the first couple of months of 2021, Irby said.