A pair of new Family Dollar stores are planned in Baton Rouge following the recent sale of two tracts of land on Airline Highway and Greenwell Springs Road in separate deals, says Ben Graham of Sperry Van Ness/Graham, Langlois & Legendre.
Construction at the stores—one of which will be at 6500 Airline Highway and the other at 9109 Greenwell Springs Road—will begin in about three to five months, with completion expected within a year, Graham says. Family Dollar stores typically measure about 10,000 square feet.
“I’ve been told these will both be replacements for two existing stores in the Baton Rouge market,” Graham says, adding he does not know which stores they will supplant. “What they’re doing is putting in new prototype stores that have a new store footprint and better functionality.”
Both stores will be developed on currently vacant land. The Airline Highway tract measures roughly 1.2 acres and sold for $310,000. The Greenwell Springs tract also sold for $310,000 and measures about 2.1 acres.
The buyer of both tracts is a limited liability company called 3D Boothandle TX of Augusta, Georgia. Graham says the buyer, whom he represented in the recent sales, develops Family Dollar stores for the national chain and has completed about a dozen deals with the company over the past five years.
The seller of the Airline Highway tract was Pickral Family LLC, while the Greenwell Springs property was sold by Burton A. Boeneke, sales documents show.
Graham says the properties are good fits for Family Dollar because “they’re both corner lots with good access, and they’re in the trade area that they need to be in.”
Headquartered in Matthews, North Carolina, Family Dollar is a publicly traded company with more than 7,100 stores in 44 states, including 20 in the Baton Rouge area. —Steve Sanoski