There has been lots of revitalization in the Baton Rouge area over the last several years. Both residential and commercial real estate has seen an uptick. This includes the recent sale of Goodwood Village Shopping Center, originally designed by the renowned Baton Rouge architect, A. Hays Town.
The property does have existing leases with tenants despite the sale to the Dallas investment firm for $3.35M. The Baton Rouge area continues to grow, with the expectation of Square 46 opening its doors soon and new restaurants moving into the area. The mall itself is a beautifully designed structure, featuring a Spanish tiled roof and large columns and arches as notable architectural features.
The areas of Mid City and Government Street have witnessed a fair share of revitalization over the last couple of years. It's finally achieving a level not thought possible in the days after the real estate bubble and Katrina. With commercial real estate booming, it gives opportunities to the city and the residents themselves. The new owners were attracted to that activity and to the current tenants and active leases in the mall.
When there is opportunity and a buzz in the air, like there is in Baton Rouge, it makes for a good environment for a buyer to buy and a seller to sell. These deals are what further the commercial real estate landscape of Baton Rouge. With successful commercial real estate opportunities comes other opportunities for growth in the community.
Source: businessreport.com, "Goodwood Village Shopping Center sells for $3.35M," Alexandria Burris, February 28, 2018