NEW ORLEANS, LOUISIANA – June 9, 2015 – (RealEstateRama) — Cushman & Wakefield announced today that it has brokered the $15.5 million sale of 1420 Sams Avenue, a ±358,060-square-foot regional distribution building in New Orleans, Louisiana.
Executive Director Mike Davis, Senior Director Michael Lerner, and Senior Director Rick Brugge represented the seller, Columbus Nova.
Built in 1984, 1420 Sams Avenue is a front-load, dock-high, one-building regional distribution center located in Elmwood Business Park – New Orleans’ largest and most centrally located industrial park. The building is one of the largest multi-tenant industrial properties in New Orleans and the only for-lease industrial property in the submarket with active rail. It was 95.6 percent occupied at the time of sale.
“This was a prime opportunity for the seller to bring to market one of the highest quality industrial assets located in the 33-million-square-foot Elmwood Business Park,” said Davis.
Cushman & Wakefield advises and represents clients on all aspects of property occupancy and investment. Founded in 1917, it has 259 offices in 60 countries, employing more than 16,000 professionals. It offers a complete range of services to its occupier and investor clients for all property types, including leasing, sales and acquisitions, equity, debt and structured finance, corporate finance and investment banking, appraisal, consulting, corporate services, and property, facilities, project and risk management.
Mike Davis
Cushman & Wakefield
Executive Director
(813) 223-6300
mike.davis (at) cushwake (dot) com
Michael Lerner
Cushman & Wakefield
Senior Director
(407) 541-4422
michael.lerner (at) cushwake (dot) com
Rick Brugge
Cushman & Wakefield
Senior Director
(813) 204-5365
rick.brugge (at) cushwake (dot) com
