Why Did a Retail Center Sell for $6.8 Million?

College Drive Center LLC, led by Oliver and Monica Montagnet, purchased a 47,000-square-foot retail center on College Drive in Baton Rouge for $6.8 million from Bright-Meyers Baton Rouge Associates, which previously bought the property for $10 million in 2003. The center includes Walmart as an anchor tenant and long-term businesses such as Office Depot and Sally Beauty. Earlier this year, Bright-Meyers sold Capital One and IHOP outparcels on the property for $5.2 million. The Montagnets also own other commercial properties in Louisiana, and the sale was brokered by Marcus & Millichap representatives Zach Taylor, Eric Abbott, and Steve Greer.Learn more on this news by visiting us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.