The industrial services company DFG Enterprises sold the facility it occupies at 3555 and 3605 Delta Drive in St. Gabriel for nearly $4.2 million.
The sale closed on Aug. 29 and the purchaser, SOLO Tec Holdings II, is a local investor.
The property consisted of five buildings on more than seven acres of land. The buildings’ combined area was 71,072 square feet, so the price per square foot works out to about $58.50 per foot.
Some 7,300 square feet of the buildings were used for offices; the remaining areas, for warehouse and shop space. Two of the warehouses had an eave height of more than 24 feet to accommodate overhead cranes.
The property originally had been listed for sale at $4.62 million. The purchaser was willing to invest because the property had a lease in place that extended to June 2018. DFG will continue to occupy the property.
Also on Aug. 29, DFG Enterprises sold another smaller building it owned at 35598 La. 30 in Geismar to LARECO, owned by Nick FaKouri. The 13,952-square-foot building sold for just over $1 million, or $75 per square foot.
This property was also listed by Ketchings; the purchaser was represented by Steve Legendre, CCIM, managing broker of Sperry Van Ness | Graham Langlois & Legendre.
The building was occupied by Furmanite, a national industrial maintenance contractor, which signed a new lease prior to the sale closing and will continue to occupy the property.
“The purchaser liked the stability of the tenant and the fact that the industrial market in this corridor is very active,” Legendre says. “The new owner will do some tenant improvements, including adding some additional limestone paving to be used as a ‘lay down’ yard. Other than needing some minor renovation, the building was in good condition.”