A former Mid City office building once occupied by Goudchaux’s department store and Netflix has been sold for $3.9 million to an Illinois real estate firm that could turn it into a self-storage facility.
Baton Rouge QOZ Self-Storage LLC bought the building at 415 N. 15th St., said Matthew Shirley of Saurage Rotenberg Commercial Real Estate, who represented the seller and the buyer. The seller was Renaissance Park LLC of California.
Baton Rouge QOZ has the same Oak Brook, Illinois, address as the Inland Real Estate Group of Companies. Inland has more than 1,000 employees and owns and manages hundreds of millions of square feet of commercial real estate.
Inland has a relationship with Devon Self Storage, which has 87 locations in 23 states, but none in Louisiana. The companies teamed up to purchase, redevelop and convert 21 properties in opportunity zones to self-storage space.
The nearly 158,000-square-foot North 15th Street building is in an opportunity zone. It was originally built by Goudchaux’s department store, then in the mid-90s it became the credit card processing facility for Mercantile Stores, the parent company of Maison Blanche. About 10 years later, Netflix opened a distribution center in the space, back when the company was in the business of mailing DVDs to subscribers, not streaming movies and TV shows.
This story has been changed since it was published to include the sale price