Sperry Van Ness represented a group of California investors in the sale of 4000 S. Sherwood Forest Blvd. in Baton Rouge for $8.15 million. The 78,000-square-foot building was purchased by Bob Merrick. You’ve got so much petrochemical activity going on across south Louisiana right now, and that’s tied to the price of natural gas, not oil,” Merrick says. “Baton Rouge has always been the headquarters for big engineering companies so you have a lot of office users, which makes it an attractive investment.”
Merrick says his latest investment is particularly attractive, given that his team in Baton Rouge is already familiar with it. No major changes are planned for the property, though Merrick says the new ownership group will “spend a little more on maintenance and upkeep.”
Broker Ty Gose of NAI/Latter & Blum represented the buyers in the deal, which closed Jan. 30. Sperry Van Ness represented the seller.