Unlocking Value: Successfully Marketing and Selling an Office Property in Baton Rouge

Challenge

Securing a suitable buyer for a single-tenant office property in Baton Rouge, Louisiana, presented many obstacles amidst a challenging market landscape. Financing for commercial real estate remained difficult due to rising interest rates and stricter lending underwriting criteria, adding complexity to the transaction. Moreover, the property's unique position as an office building not directly adjacent to other office complexes, nor situated within a designated office park, posed additional hurdles. These factors compounded the challenge of attracting potential investors and necessitated a strategic approach to marketing and positioning the property effectively within the competitive real estate market.

Actions

Justin Langlois began by conducting comprehensive market research to pinpoint potential buyers interested in single tenant leased assets in the Greater Baton Rouge Area. This research included targeting other CRE advisors that work with office investors. Utilizing his extensive networking connections and employing targeted marketing strategies, Langlois reached out to local investors and CRE advisors. Emphasizing the property's long-term lease with ResCare and recent property renovations, including a new roof and major parking lot repairs, Justin effectively showcased the investment’s value proposition.

Results

• Three (3) offers were received over a twenty-one day (21) period
• Achieved a successful sale of the property to local area investor
• The sales price was within 3.53% of asking price, demonstrating effective pricing strategy and negotiation

Testimonial

"Over the years, our experience working with Justin has been exceptional. He knows the market and is dedicated to finding the right buyer for our properties. He ensured a smooth and hassle-free transaction."
- Bob & Susan Thibodeaux