Go to: www.rodnolespropertymanagement.com and click on radio notes and sign up to have them emailed each week. If you know of someone looking for rental space, apartments, homes, retail, office or industrial send them to www.rodnolespropertymanagement.
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).
Construction staging new apartments at Masonic and Horseshoe: has begun you can see where they are beginning to secure job site and survey the layout. Masonic 165, LLC (204 Whaley Road, Forest Hill, LA 71430) to Mason Estates, LLC (275 Glen Lake Drive NW, Atlanta, GA 30327) - 6.97 acres in Sec 4, T3NR1W, $1,300,000.00
JEC Real Estates Investments, LLC (3003 Old Forge Dr., Suite B, Baton Rouge, LA 70808) to KDBPG, LLC Michael Kimble and Robert Gunby(10606 Coursey Blvd., Suite B, Baton Rouge, LA 70816) - .74 acres in Sec 7, T4NR1E, $475,000.00, this is $14.74 psf or $641,891 if they tear building down.. This is the former Hickory Hut at corner of Rainbow and highway 28 east. Looks like new restaurant to me and I think this is Matt Ritchie’s sale. If you miss the show Matt plans to tell me this is O’Riley Auto Parts new store.
Loan for this deal KDBPG, LLC (10606 Coursey Blvd., Suite B, Baton Rouge, LA 70816) to Sterling Bank (P O Box 460, Poplar Bluff, MO 63901) - .74 acres in Sec 7, T4NR1E (3002 Hwy. 28E, Pineville, LA 71360), $870,000.00
Plaza 28, LLC (308 W Parkwood, Ste 104-A, Friendswood, TX 77546) to A&M Holdings, LLC Ravinderjit Brar (224 Links Dr., Alex., LA 71303) - Lot 2, Plaza 28 (6501 Coliseum Blvd., Alex., LA 71303), $815,000.00, this lot was 1.34 acres this $13.96 psf the previous sale was smaller parcel went for closer to $14 psf. Keep in mind pad location at Wal-Mart next to sonic sold for $11.87 psf to Peoples Bank just few years back. $14 psf is almost $610,000 per acre. This was Ron Hebert’s sale, Maurice told me he was on the sidelines for this one.
Life Center, LLC Dr. Howard Wold (605-B Medical Center Dr., Alex., LA 71301) to White Oak Centre, LLC Dr. Bill Patty, Dr. Michael Redmond,Dr. Thomas Norton, Dr. Karen Russo, and DR. Eric Reish (231 Windermere Blvd., Alex., LA 71301) - Tract in Sec 28, T1NR4W, $527,315.62 total of 84,370 square feet or $6.25 psf for 1.94 acres fronting Windermere 210.56’ with 420’ depth.
New Dollar General @ Lee and Bringhurst developer is Ratcliff facilities and seller is Washington Square LLC nice corner property for only $115,000.
Stanley W Young, et al (P O Box 302, Forest Hill, LA 71430) to Elizabeth A Welch (P O Box 368, Forest Hill, LA 71430) - 38.07 acres in Sec 24, T1NR2W, et al, $670,000.00. Good sign to see nursery property sell at any price. This is a segment of the real estate business that has not been active. The acreage price of $17,632 does not tell you much as there was certainly some improvements that would cause an adjustment to land allocation value
The Kings of Columbus at 3517 England Drive sold their land and building to Community Baptist Church. Columbian Catholic Association (P O Box 7696, Alex., LA 71315) to Garden of Glory Community Baptist Church (2521 England Dr., Alex., LA 71303) - 13.17 acres in Sec 13, T4NR1W (3517 England Dr., Alex., LA 71303), $300,000.00. Church currently owns property north of Enterprise and England nearing across the street from KSYL radio tower. Looks like growing church likes their location but needs larger building so they are simply moving down the street.
Drive by reporters help;
Masonic drive: right hand side going south just outside the city limits looks like commercial or industrial building under construction. What is this? 442-8255
New Office Building in Metroplex; need some help on who is building this office?
People not properties:
Matt Ritchie is my guest for the week he plans to correct some of my mistakes from last week and give us an update on trip to Washington DC last week for NAR meetings. Matt is President elected for LRA and first VP for CCIM, plus he knows somethings about local market that are just off my radar.
Barry Schaps Vice President in charge of making the $450 Million dollar bio fuel plant a reality. http://www.centrallouisiana.org/ you can register for updates on Sundrop Fuels might be an interesting way to follow their development. Zero press was in attendance at quarterly meeting where Sundrop discuss size, scope, and process of first 50 million gallons per year 87 octane gasoline refinery.
Construction Contracts: zero for the week.
Announcements, Attachments and Travels:
Startup week end June 1st through 3rd call 442-6671 if you want to participate. This is smallest market where this opportunity has been offered.
Cotile lake is the forgotten body of water in Rapides Parish took an evening board ride with friend Sunday evening and sunset was beautiful and so was the lake. Looking for home on the lake do not pass over Cotile some very nice homes and great lake closer to town with completion of work on 28 east.
(+3.75) 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.
Legal recorder data: five business days from time period of May 21st to May 25th.
I have eliminated the random subdivision study as one of my five food groups and now only measure 4 allowing 1.25 points for each positive score. Have also eliminated mortgage volume for the week, and will remove both of these sections from my weekly transcripts. If you were using this data please email me and if enough folks want to continue research in this category I will consider putting the data back in my notes.
(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.
(+1.25) Total weekly volume was: 45 transactions with volume of $7,083,562 great week one sale $1,300,000.
(+1.25) Lot sales: To rank positive score need one sale market gave us three
Weilland Enterprises, LLC (P O Box 12483, Alex., LA 71315) to Charles A Tucker, Jr. & Alaina M Tucker (312 Eola Dr., Alex., LA 71303) - Lot 121, St. Andrews Links Estates, Phase III (121 St. Andrews Dr., Alex., LA 71303), $33,500.00
Bocage Subd. Of Alex., LLC (P O Box 12846, Alex., LA 71315) to V & V Builders, LLC (P O Box 12846, Alex., LA 71315) - Lot 251, Bocage Subd., Phase V (27 Ragan Dr., Alex., LA 71303), $22,000.00
DONK, LLC (1580 Hwy. 115, Deville, LA 71328) to JWT Properties, LLC (6031 Bayou Rapides Road, Alex., LA 71403) - .99 acres in Sec 17, T4NR1E, $28,000.00
(-1.25) New Home sales: to rank positive score need one sale last week market provided zero
(+1.25) Lender sales as percent of total sales: rates positive score if lender sales are below 5% of total sales, total number of sales for the week was $165,150 / $7,083,562 = 2.33%
The Evangeline Bank (497 West Main St., Ville Platte, LA 70586) to Jerad W & Lacon P Broussard (14 Singley Road, Glenmora, LA 71433) - 8.05 acres in Sec 2, T2SR3W, $36,000.00
Capital One (P O Box 61540, New Orleans, LA 70161) to Cold Spring Properties, LLC (3564 Pearl, Boulder, CA 80301) - Part of Lots A & B, Villa Sites Addn. (338 Florence Ave., Alex., LA 71301), $129,150.00
Interest Rates: 30 year fixed is 3.79% was 3.75% the 15 year rate is 3.11% was 3.02% 5/1 ARM is 2.67% was 2.66%.
Razor’s Edge: Parting shot is what I plan to call this segment and in the future will make it my last comments of the week. This week barber shop news is too serious to take a chance on running out of time. Free junior golf lessons at Bringhurst Tuesday and Wednesday mornings 8:30 to noon starting June 5th through July 25. Ages 8-15 call Scott Brame 487-6591 or email him at firstname.lastname@example.org. Just wish we could get a family involved that knew something about golf. Thanks Mr. Brame.