The Real Deal Miami

Parkland company assembles site for Baton Rouge retail center

Commercial Property Ventures Inc. has paid about $4 million for a 5,24-acre assemblage
May 13, 2018 04:40PM

Stephen Noyola (Credit: LinkedIn)

A Parkland-based company bought a 2.2-acre property in Baton Rouge, Louisiana, as part of a site assemblage of the development of an upscale shopping center.

Commercial Property Ventures Inc. of Parkland, owned by Stephen Noyola, bought the Baton Rouge property from a bank for $2.075 million.

The Parkland company will couple the property with another measuring 3.04 acres for retail development, according to David Trusty, an agent of brokerage firm Coldwell Banker Commercial One.

Commercial Property Ventures bought the 3.04-acre property for $1.9 million last October.

Trusty, who represented the seller of the smaller property, Fidelity Bank, told the Greater Baton Rouge Business Report that the Parkland company is planning to develop “a high-end retail center with a restaurant out-parcel.”

The development site is in a heavily trafficked area of Baton Rouge near the intersection of Bluebonnet Boulevard and Perkins Road. [Greater Baton Rouge Business Report]Mike Seemuth