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You can participate in the show by calling 318-442-8255 (talk) between 8:05 and 8:55 on Wednesday morning. Do not attempt to call Saturday this is our encore performance (fancy way to say taped).
Every deal has a tale / tail:
Ken Moran Holdings, LLC (P O Box 1386, Alex., LA 71309) to Yahweh, LLC (5015 Hwy. 71, Tioga, LA 71477) - 27.74 acres in Sec 4, 5, & 6, T5NR2W (7225 Hwy. 1 North, Boyce, LA 71409), $1,527,000.00. Loan on this transaction: Yahweh, LLC. James Greer and Richard Kyle (1423 Lee St., Alex., LA 71301) to Sabine State Bank (P O Box 670, Many, LA 71449) - 27.74 acres in Sec 4, 5, & 6, T5NR2W (7225 Hwy. 1 North, Boyce, LA 71409), $1,295,500.00.
Town Talk highlights April 3, 2012 regard this property:
27.75 acres, 4,000 seat arena, 200,000 square feet
Ken Moran paid $2,900,000 in 2004
Donahue Family church placed under contract for $4.85 with $800,000 non refundable down payment
Dr. John R. Berry open entertainment venue in 1999 with mascot name Lasseaux
Opened in 2001 and was 90% complete and bank foreclosed in 2001
Audience is invited to call and give us your best ideas for the use of the property.
Plaza 28, LLC Jerome Karam (934 Third St., Alex., LA 71301) to BMS Holdings, LLC Luther Mount (3599 Monroe Hwy., Kingsville, LA 71360) - Lot 1, Plaza 28 Subd., $642,000.00. Lot size is 44,050 square feet approximately 169.26 x 260.21 or $14.57 psf being first lot on left as you enter Century Tel property. Maurice Hebert was listing agent and probably selling agent (plat attached to notes). This is healthy news for 28 West where last sale in Wal-Mart parking lot to Peoples Bank was $11.50 psf.
1106 Main Street, LLC (1715 England Dr., Alex., LA 71303) to LJF Investments, LLC (56 Mineola Ave., Roslyn, NY 11576) - Lot 7, Sq 2, O'Neals Subd., $1,278,700.00. Dollar General on Main Street Pineville. Greg Thompson is agent with NAI Latter & Blum and he handled both sides of this transaction.
Best Buy to close 50 stores: My editorial comment is I feel certain Alexandria Commons is not on that list. March 30th Wall Street Journal article states that this category killer is moving away from big box where some of their stores are 58,000 sf. Alexandria store is 32,000 sf. They will not only close 50 stores but plan to “test remodel stores in San Antonio and Minneapolis. They will lay off 400 workers and move to trim $800 million in operations cost. Next we will see hundreds of smaller stores selling mobile phones. This is move to compete with Apple Inc.’s fast-growing gadget stores.
Speaking of cell phones Americans lost $30 billion worth of cell phones last year. On average consumers lost their phones once a year. Source for this trivia was “The Week” magazine.
Sears looking to sell Lands’ End business third broker Mark Hebert of Baton Rouge has Sears former warehouse locally on Industrial Blvd listed for sale. Property is 50,000 sf and approximately 4 acres of land
People not properties:
Karl Landreneau, NAI/Latter & Blum's director of commercial sales and leasing for the Baton Rouge, New Orleans, and Alexandria markets, was recently awarded the NAI Global Chairman's Award, which recognizes the NAI business director who best exemplifies the "right stuff" as it relates to the effective management of an NAI office, including leadership, business generation, service delivery, participation in enterprise initiatives and integration of NAI tools and resources throughout the firm. Landreneau says the acquisition of NAI Global by C-III Capital Partners, completed in January, brings added resources and business to the local office. He is currently first vice president of the national Certified Commercial Investment Member Institute, and will serve as the institute's president in 2014.
Priscilla Perry my assistant completed her first commercial deal in cross sale with Paul Stich on $27,500 warehouse deal on Culpepper. After closing she comes in to tell me the buyer was my tenant at Glass shop located at 3219 Masonic. This space is now for lease.
Jimmy Deramus second season of Cajun Pawn Stars.
Announcements, Attachments and Travels:
I took trip to Monroe Tuesday to conduct workshop for John Rea’s commercial team and see prospect about buying commercial tract in Alexandria. Notice three things about the drive (1) this is a beautiful state (2) highway is 4 lane all the way and (3) great cell phone connection. Great new restaurant down town Monroe called Cotton beautiful old building and the food is just great. Maurice “Mo” Andrade formerly with Emeril’s is general manager ask for Steven for your server and forgot to mention Corey Bahr is the chef.
Monroe certainly appears to have more residential new construction, and architecture for their new buildings is really sharp looking.
I attended “Energy workshop” in Shreveport, with member of Commerce and Industry Board from Alexandria, La. . When Chesapeake Oil public relations director Jeff Holladay was speaking he made mention of Sundrop Fuels and I was the only person to applaud.
Mykoff absorption report did not have time to digest the numbers but 5.38 total month supply cannot be correct. Will ask Alvin about the numbers and have full report next week.
Rod’s economic indicator perfect score is 5. When top rating of 5 appears week after week I will share with our audience, that “Green Shots” is here and recovery is in full swing.
(+3) Legal recorder data: five business days from time period of March 26th through March 30th.
(1)Total of 40 closed deals for the week has positive score
(2) At least one new home sale for the week has positive score
(3) At least one subdivision lot sale for the week garners positive score
(4) Number of lender sales in market place is less than 5% of the total market sales for the week.
(5) Two random subdivision sales compared to averages for 2008, 2009, 2010, 2011, and year to date for 2012.
(+1) Total weekly volume was: Volume was nearly $10,000,000 or $9,883,155 to be exact with 55 transactions and two deals above $1,000,000.
(0) Random home sales for the week: one sale was positive and one sale negative
Jonathan P Firment (154 Deerbrook Trail, Pineville, LA 71360) to RWW Properties, LLC (5801 Masonic Dr., Alex., LA 1301) - Lot 34, Aurora Park Subd. (125 Arlington Dr., Pineville, LA 71360), $75,000.00. Negative score see sales below.
2008 sales totaled 5 with average price of $96,080 the lowest price was $79,000and the highest price was $104,000
2009 sales totaled 1 with average price $115,000
2010 sales totaled zero
2011 sales totaled zero
2012 one sale year to date at $75,000
Blake K & Lindsay S Cooper (184 St. Andrews Dr., Alex., LA 71303) to Russell A & Stacy L Byrd (P O Box 3842, Pineville, LA 71360) - Lot 29, Paradise Point Subd. (4808 Paradise Point Dr., Ball, LA 71405), $212,000.00. Positive score sale is very near previous year’s average.
2008 sales totaled 3 with average price of $213,500
2009 sales totaled zero
2010 sales totaled 4 with average price of $211,250
2011 sales totaled 1 with average price of $218,500
2012 sales year to date is one at $212,000
(+1) Lot sales: : To rank positive score need one sale market gave us 3 sales for positive score.
B D R Properties, LLC (41 Vickie Lane, Alex., LA 71303) to Jessica N Raila (41 Payne St., Pineville, LA 71360) - Lot 34, Beau Chene Subd., Phase II (170 Fox Chase Dr., Pineville, LA 71360), $27,500.00. Something is wrong with this lot or this sale past 17 lots sold at an average of $37,247
Price Right Properties, LLC to George K & Gina L King (220 Sweet Bay Lane, Pineville, LA 71360) - Lot 11, Buckeye Ridge Subd., Phase 2, $34,900.00
Michael W & Michelle T Barnett, et al (18012 Monitor Ave., Baton Rouge, LA 70817) to Robin W & Terri L Hunnell (11 Grayson Marler Road, Hineston, LA 71438) - 10.24 acres in Sec 2, T3NR4W, $60,000.00
(-1) New Home sales: to rank positive score need one sale last week market provided zero
(+1) Lender sales as percent of total sales: rates positive score if lender sales are below 5% of total sales, this week market gave
The Evangeline Bank (3700 Jackson St., Alex., LA 71303) to Jody K & Dana C Mays (1524 Palmer Chapel Road, Pineville, LA 71360) - 4.715 acres in Sec 13, T3NR1E, $400,000.00 / $9,883,155 = 4.04%
Louisiana's delinquency fell 0.39 points on the month to 6.36%, while the U.S. delinquency rate slipped 0.59 points to 7.24%. This is the percentage of home loans more than three months past due.
Lender sale to Freddie Mac what does that mean to the market?
J P Morgan Chase Bank (415 Vision Dr., Columbus, OH 43219) to Federal National Mtg. Assoc. (2001 Bryan Tower, Suite 1200, Dallas, TX 75201) - Lot 146, Sherwood Forest (161 Robin Hood Road, Dry Prong, LA 71423), $238,000.00
Interest Rates: 30 year fixed is 3.98% as 4.02%the 15 year rate is 3.22%was 3.24% 5/1 ARM is 2.83% was 2.88%.
Mortgage activity for the week: Total mortgage loans were 85 loans with volume for the week of $15,140,076 / sales volume of $9,883,155 = 1:53 to 1:00 ratio. This is the largest loan volume year to date.