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BATON ROUGE, LA-An investment group, shelling out $5.5 million for 19 acres in the southeastern sector, plans to develop the property into an $80-million development with 300,000 sf of mixed-use space. Before the year ends, ground will break on the first phase, a 110-room, $10-million Holiday Inn Express.

“We have a lot of wetlands issues in Baton Rouge so finding a piece of property that’s high and dry is good,” says Mark Hebert, principal with Baton Rouge’s Kurz & Hebert Commercial Real Estate Inc. The land is along Siegen Lane and north of Interstate 10.

Hebert represented the buyer, Siegen Retail LLC. Persac Properties Inc. of Baton Rouge brokered for the local sellers, Siegen Plaza Power Center LLC and the Womack Family Ltd.

Hebert tells GlobeSt.com that the sale represents the last tract of land available in the commercial corridor, which already boasts a Target, Gold’s Gym and Academy Sports & Outdoors store. “The demographics are out of sight on that parcel,” he adds. “It’s a great location for off-price retailers as well as service centers.” Full details about the balance of the build-out weren’t available by press time.

Mark Zipperer, president and CEO of Pride Hospitality in Germantown, TN, will be developing the Holiday Inn Express. “The Baton Rouge market has always been solid and good for us,” he says. “We have the 195-room Holiday Inn down the street and when this new hotel is near completion, we’ll replace the older one with it.”

In addition to the Holiday Inn at 10455 Reiger Rd., Pride Hospitality operates the 60-room Holiday Inn Express College Drive at 4924 Constitution Ave. and 84-room Holiday Inn Express & Suites at 3903 Ambassador Caffery Parkway in Lafayette, LA. The company also has an ownership interest in an under-construction Candlewood Suites in Lafayette.

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