The former Hobby Lobby building near the intersection of Interstate 12 and O’Neal Lane has been sold for $3.9 million to a North Carolina self-storage company.
MCG Baton Rouge LLC bought the building at 1683 O’Neal Lane, said Carmen Austin of Saurage Rotenberg Commercial Real Estate. Austin and Lauren Buckholtz, also of Saurage Rotenberg, represented the buyer and the seller, H&E Properties.
MCG Baton Rouge is a limited liability company set up by Madison Capital Group, which is affiliated with Go Store It founder and Chief Executive Officer Ryan Hanks. Go Store It has more than 50 locations across the country, with a concentration in North Carolina and South Carolina.
The Hobby Lobby building has been vacant since July, when the company opened a new location in Juban Crossing. The building is 102,450 square feet and sits on a 7-acre site.
The plan is for Go Store it to convert the building for self storage as soon as possible, Austin said. She will market outparcels on the property for other uses, such as fast food or retail.
This will be the company's first location in Louisiana, but there are plans to expand. Austin said she is helping Go Store It find similar locations — empty big-box stores close to the interstate.