$3.8 Million Dollar Office Building Sold

By
Commercial Real Estate Agent with Tri State Properties BROK.0099563782-ACT

 

 $3.8 Million Dollar Office Building Sold

 

Office Building Sale

 

Richland Tower in West Monroe, which Mayor Dave Norris called an "instant landmark" when it opened in 2005, has been bought by ZEG Ventures of New Orleans for $3.8 million.

 

By 2009, only two floors of the 57,000-square-foot building were occupied, but Ryan Roark's Advanced Property Management firm brought Richland Tower back to 100 percent occupancy, which facilitated the sale to ZEG Ventures.

 

Ryan Roark brokered the sale locally through Keller Williams Commercial and he will continue to manage the property.

 

Roark scored a key deal with new tenant Ford, Bacon and Davis, which leased two floors. Richland State Bank, which was an original tenant, continues to anchor the first floor.

 

"This is really the premier office building in West Monroe, so once we had it leased, it became that much more marketable."

 

"It's a great building in a great location, and I think it's going to be an asset for a long time," Norris said. "I'm especially pleased to see Ford, Bacon and Davis fill its floors with jobs."

Posted by

Ryan Roark CCIM, is a licensed commercial real estate broker. If you are interested in commercial properties in Monroe, Louisiana you may contact him at 318-348-5815. His office is located at 1900 N. 18th Street, Suite 319, Monroe, LA. www.MonroeCommercial.com

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Rainer
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Tara B. Downing
Village Properties - Mineola, NY
Homes For Sale - Mineola Port Washington

Thats a great picture of the building.  Thanks for sharing your ideas with us.

Aug 01, 2011 12:41 PM #1
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Rainer
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Ryan Roark

CCIM, Commercial Real Estate Monroe LA
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