Discount airline site

Hooters, a restaurant and sports bar, plans a new location in Baton Rouge on Siegen Lane next to Arby's restaurant near the Industriplex Boulevard.

I had no idea there was another Hooters restaurant in Baton Rouge until Hank Saurage with Saurage Realtors, who brokered the transaction, told me their other restaurant is in Esplanade Mall on Corporate Boulevard.

The new Hooters restaurant, which will be larger than the first, has purchased a site for $747,000. The site was 1.32 acres, so the sale price per square foot calculates to approximately $13.

Hooters liked this location because it was well supported by adjoining restaurants and retail development along with the employment in the Industriplex area.

Hooters should begin construction on the new restaurant some time this summer. The transaction closed on May 30.

Energy Plaza sells

The property located at the corner of Corporate Boulevard and Energy Plaza Drive, more commonly referred to as the Fuddruckers Center, has sold. The center is near the CitiPlace development.

The sale closed on April 30 for $2.2 million and included approximately 14,290 square feet. The price works out to approximately $153 per square foot.

At the time the property was sold, Fuddruckers had vacated its space and there was a lease pending to Mansur's restaurant. Mansur's will leave its College Drive location due to the Wal-Mart development and relocate in the Fuddruckers space.

Mansur's will completely renovate the restaurant. Our discussions with Beau Box with Latter & Blum, who brokered both the sale transaction and lease transaction, indicated that Mansur's thought this was an excellent location for them. It was close enough to their existing restaurant to serve their existing clientele and will take advantage of the additional entertainment development surrounding CitiPlace and the Esplanade Mall.

Box said the purchaser of the shopping center was an out-of-town investment firm that recognized the site as one of the prime retail properties in East Baton Rouge Parish.

The sale price per square foot reflects one of the highest prices paid for a retail center in the Baton Rouge area.

Wal-Mart closings

Two neighborhood Wal-Mart stores have closed deals on sites in the East Baton Rouge Parish area. Wal-Mart purchased a 4.851-acre tract near the corner of Old Hammond Highway and Airline Highway for a total price of approximately $1,215,000.

The site has frontage on Old Hammond Highway and will be improved with the Wal-Mart concept of a neighborhood grocery store.

Wal-Mart purchased this site for $5.75 per square foot. The sale closed on May 19. Wal-Mart also assembled another site on Coursey Boulevard near Jones Creek.

The assemblage took place on May 30 for a total price of about $2.3 million. This calculates to a sale price per square foot of about $4.80.

Wal-Mart will begin construction on both neighborhood stores within the next month.

Houmas House sells

Houmas House Plantation has long been a landmark for the state of Louisiana. It now has a new owner.

At the end of May, Houmas House was sold to Kevin Kelley, a New Orleans investor who has renovated several historic properties in the New Orleans area. He purchased Houmas House Plantation for $2.95 million. The sale included the residence, at approximately 13,000 square feet, and a 27-acre tract.

Kelley will continue to operate the property for tours and will expand the operation for catering, weddings, and other events. The sale was brokered by Dorian Bennett, a New Orleans broker.

TOM COOK. MAI, is a local real estate appraiset, consultant and broker. Send him real estate news at tomwcook@aol.com.