$3.8 Million Dollar Office Building Sold
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."