Built in 1960, the Commerce Building is an 8-story, downtown office building providing approximately 180,000 gross square feet. The Property currently sits on 1.05+/- acres, which will not convey with the real estate as it is subject to a ground lease.
Details
The first floor is open and ideally configured for retail or restaurant use. The remaining seven floors provide currently for office use with open conference areas in the central corridor of the building. The building offers secure, underground parking with approximately 40 stalls.
Current zoning for the Commerce Building is C-5, Business Overlay District. Please refer to the Property Information Package for more information regarding the ground lease and possible historic tax credits.
Personal property does not convey.
Note: A deposit of $100,000 is required to bid on this Property. Please refer to the Property Information Package for instructions.
To receive the property information package, please complete, sign, and return the
confidentiality and non-reliance agreement to Williams & Williams.
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Reference
210697 00-1329--TW/11-2009
Broker Licences
333 Laurel St Baton Rouge, LA 70801
That certain leasehold estate held by Dean Commerce Building, L.L.C. as Tenant under the following documents registered in the records of East Baton Rouge Parish, LA (collectively the “Leases”):
(a) Two (2) leases, namely (1) LEASE dated April 28, 1950 by Hart Realty Company, LTD as Lessor to Third and Laurel Realty Corporation covering Lots 4 and 5 of Square 5 or 64, Devall Town, East Baton Rouge Parish, LA, expiring December 31, 2050, recorded on 4/28/50 at COB 866, Folio 108, official records of East Baton Rouge Parish, LA, as amended by a Supplemental and Amended Contract of Lease between the same parties as of April 1, 1952 which is unrecorded, and an Amendment to Contract of Lease dated as of October 22, 1953 recorded 11/2/53 at COB 1061, Folio 459, official records of East Baton Rouge Parish, LA, as further amended by Amendment dated March 20, 1954 recorded on 3/22/54 at COB 1079, Folio 38, official records of East Baton Rouge Parish, LA; and (2) LEASE dated February 15, 1952 by Hart Estate, Inc. as Lessor to Third and Laurel Realty Corporation covering Lot 6, Square 5 or 64, Devall Town, East Baton Rouge Parish, LA, expiring December 31, 2050, recorded on 3/15/52 at COB 972, Folio 159, official recoreds of East Baton Rouge Parish, LA; as amended by instrument recorded on 11/2/53 at COB 1061, Folio 459, official records of East Baton Rouge Parish, LA; and further amended by instrument recorded on 3/22/54 at COB 1079, Folio 41, official records of East Baton Rouge Parish, LA.
(b) As transferred by Third and Laurel Realty Corporation to Shepard M. Latter by act in liquidation recorded on December 11, 1961 in COB 1606, Folio 211, Original 53, Bundle 5024 of the official records of East Baton Rouge Parish, LA.
(c) As further transferred by Judgment of Possession in the Succession of Shepard M. Latter to Suzanne Rothstein Latter Rose, Katherine Latter Buckman, Patricia Latter Shore and Mary Dee Latter recorded March 27, 1990 in Original 594, Bundle 10140 of the official records of East Baton Rouge Parish, LA.
(d) As further transferred by conveyance in contribution to Westminster-Commerce Associates, a Louisiana partnership, which conveyance in the form of Articles of Partnership dated February 26, 1992 was registered with the Secretary of State on March 10, 1992 and recorded on March 27, 1992 at Original 957, 10293 of the official records of East Baton Rouge Parish, LA.
(e) As further transferred by various Assignment of Leasehold and Other Rights in Favor of Dean Commerce Building, L.L.C. dated February, 1999 and recorded on February 11, 1999 at Original 805, Bundle 10979 of the official records of East Baton Rouge Parish, LA.
333 Laurel St Baton Rouge, LA 70801
BUYER ACKNOWLEDGES PROPERTY MAY BE SUBJECT TO CITY/COUNTY ZONING, USE, OR CERTIFICATE OF OCCUPANCY INSPECTIONS. BUYER IS PURCHASING THIS PROPERTY AS-IS AND BUYER ACKNOWLEDGES IT IS THEIR SOLE RESPONSIBILITY AND BUYER'S EXPENSE TO OBTAIN SAID INSPECTION PRIOR TO OCCUPANCY. SELLER AND WILLIAMS & WILLIAMS HAVE NO KNOWLEDGE OF ANY REGULATORY REQUIREMENTS OR HOW SAME MAY IMPACT BUYER'S INTENDED USE OF THE PROPERTY. BUYER ASSUMES RESPONSIBILITY FOR SATISFACTION OF ALL ZONING, USE, OR OCCUPANCY, AND ANY OTHER REGULATORY REQUIREMENTS INCLUDING ALL COSTS AND REMEDIATION THAT MAY BE NECESSARY INCLUDING BUT NOT LIMITED TO ESCROWING OF FUNDS, REPAIRS OR IMPROVEMENT UPON PROPERTY AND TO FULLY COMPLY WITH ANY CITY/COUNTY REQUIREMENTS.
BUYER IS RESPONSIBLE FOR THEIR DUE DILLIGENCE REVIEW OF LAND LEASE MADE AVAILABLE PRIOR TO AUCTION DATE, AND WILL COMPLY WITH TERMS OF SAID LEASE. Each high bidder must make a 10% non-refundable deposit per property ($2,500 MINIMUM - whichever is greater) immediately following auction. Cash, cashier's checks, and personal checks (electronically processed) are accepted. If you are a resident / citizen of a country outside of the US, certified funds (bank check, wire transfer, certified checks) are required for the down payment and closing. The balance of the purchase price and all closing costs are due at closing, which shall occur within sixty (60) of Seller's acceptance of the high bid. If for any reason Seller does not perform or accept the terms of the Contract, the sole remedy shall be the return of Buyer's deposit. Closing shall occur on or before 60 days from seller's acceptance date.
leases made available prior to auction. Personal property does not convey.
LA RE LIC BROK.0995680155- DANIEL NELSON BROKER
AUC LIC 1272-05 THOMAS L. WILLIAMS AUCTIONEER
AUC LIC 836-05 DUSTY TAYLOR AUCTIONEER
AUC LIC 1628-06 TOMMY ASSITER II AUCTIONEER
AUC LIC 1641-07 TOMMY BARNES AUCTIONEER
AUC LIC 1704 JERRY KING AUCTIONEER
W&W AUC LIC AB-237
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