Michael Crouch has purchased the former Richoux’s building on Third Street downtown from Danny McGlynn for $1.2 million.

Crouch is interested in bringing in a Raising Cane’s location on the first floor and a restaurant and bar on the second floor with outdoor seating on the roof. He said there are no signed leases yet but he’s confident deals will get done in the next 30 days.

Crouch said the restaurant operator he is in discussions with is local and will be a new restaurant to Baton Rouge.

Crouch said the first tenants could open in the building by the end of the year.

He said there is a third space on the first floor, though he hasn’t made a decision about a tenant there yet.

The 11,000-square-foot building is best known for the neon Coca-Cola sign on the roof. Crouch said the sign will remain.

Crouch is the president and chief executive officer of TerraBase Inc., an environmental database management company.