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Five-story tower purchased
One of the largest sales in recent years of a commercial building in Ouachita Parish occurred last week in West Monroe. The Richland Tower, a five-story, 56,000 sf building at 2500 N. 7th St. in West Monroe was sold to Zeg Ventures, LLC for $3.8 million.
The building was purchased from Citizens Bank and Trust Co. of Kansas City, Mo. The new owner said "'the building is a class 'A' property in an up-and-coming market'." They added, " we see the upside to the Northeast corner of the state and were impressed with the professionalism of the private sector and local government."
The transaction was brokered by Ryan Roark, CCIM a Commercial Realtor with Keller Williams. The building had been on the market for more than a year but with the recent lease to FB&D Engineering Company , the building occupancy reached 100 percent occupancy with Triple 'A' rated tenants including Walgreens Regional Office, Universal Pegasus and Richland State Bank.
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Bill Roark is a Commercial Associate Broker at Keller Williams Realty and may be contacted at bill_roark1@yahoo.com. |
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