HSA Commercial Real Estate Begins Development of Baton Rouge West Distribution Center
May 25, 2007
(Chicago – May 25, 2007) Jack Shaffer, chairman, HSA Commercial Real Estate, announced that the firm has begun construction of the 495,000-square-foot Baton Rouge West Distribution Center in Port Allen, Louisiana, a suburb of Baton Rouge. A groundbreaking ceremony featuring members of the HSA development team, leasing agents from Beau Box Commercial Real Estate (which is handling the leasing) and representative of Premier Design Build (the general contractor) were on hand, along with local officials of West Baton Rouge Parish, was held on May 1, 2007.
Situated on 41.62 acres of land and less than 1 mile from Interstates I-10, I-110 and I-12, the project will consist of a 275,000-square-foot building and a 220,000-square-foot building, both divisible to 15,000 square feet. Available in the first quarter of 2008, Baton Rouge West Distribution Center is ideally located in the Baton Rouge West industrial market, the furthest inland deep-water port on the Mississippi River.
The project is located in the Katrina Gulf Opportunity Zone, which offers qualifying employers 5-6% rebates on payroll for 10 years, 4% sales tax rebates on machinery purchases, and 40% Employee Tax Retention Credit and tax credits for job creation. HSA owns the property directly next door, 1844 Commercial Drive, and purchased the additional 41.62 acres several years ago for future development.
1844 Commercial Drive is currently leased to the United States Postal Service and serves as the southern Louisiana mail distribution center. HSA leased the property to the USPS in 2005 after their New Orleans distribution center was rendered inoperable by the devastating effects of Hurricane Katrina.
Each building in this development will offer 40 truck docks, 8 drive-in doors, 30’ clear ceiling heights, 50’ bay spacing and abundant truck and car parking. Leasing is being handled locally by Brent Garrett of Beau Box Commercial Real Estate. HSA executive vice president, Mark Christensen is heading the development team responsible for bringing this project to fruition.
Celebrating 26 years of excellence in commercial real estate, Chicago-based HSA Commercial Real Estate is a full-service real estate firm specializing in office, industrial, retail and health care real estate leasing, management, marketing, development and financing on a national basis. The firm and its principals have developed and acquired more than 30 million square feet of commercial real estate across the United States with total consideration in excess of $1.5 billion, its brokerage divisions have completed more than 7,000 transactions in 43 states representing both owners and tenants, while the asset management division currently manages a property portfolio in excess of 15 million square feet in 12 states and the firm presently owns over 17 million square feet of commercial property in 14 states.
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