South Louisiana Economic News

 

 

 

 

 

 

 

 

With oil prices decreasing dramatically over the past few months, here is a sample of South Louisiana economic news (both positive and negative) being reported by news sources:

Houma Named Acadiana Profile’s City of the Year – (MyNewOrleans.com – 2/2)

Airport Expands to Serve Oil and Gas (HoumaToday.com – 2/2)

Lafayette Oil Service Firm Acquired for $230 Million (TheAdvocate.com – 2/2)

Plan for Export Facilities in Doubt (The Advocate.com – 2/1)

Locals Watch Falling Oil Prices With Concern (HoumaToday.com – 1/31)

Louisiana Squeezed as Oil Prices Drop (NY Times – 1/31)

Norwegian Maritime Firm Invest $20 Million in St. Rose (Nola.com – 1/29)

Oil Price Slump Not Immediate Threat to LA Projects (Nola.com – 1/28)

Job Totals at Record High Even as Jobless Rate Rises (Nola.com – 1/27)

Terrebonne Parish Infrastructure Projects Progressing (HoumaTimes.com – 1/27)

Oil Prices Pose Both Danger and Opportunity (TheAdvertiser.com – 1/25)

Production Begins at Lucius Field in Deepwater Gulf (HoumaToday.com – 1/19)

Enbridge to Build $130 Million Pipeline in Gulf (Nola.com – 1/15)

Local real estate news has continued to be positive.  Schlumberger, an oilfield services giant, recently purchased 60 Acres at US Hwy 90 and LA Hwy 311 for $4.5 Million.  And our firm had January closings on commercial/industrial acreage at the corner of LA Hwy 182 and Coteau Rd. plus additional land for international propulsion firm Schottel.  Besides these closings, 90 acres on LA Hwy 311 just south of US Hwy 90 went under contract in January.

The coming months will be an interesting time in our industry and for the overall economic health and future of South Louisiana.  If you need real estate advice and guidance to help you navigate these turbulent times, contact Logan Babin Real Estate and Appraisals.  We have been offering sound, competent real estate advice and counseling for over 50 years.  Call us today and you will soon discover why we say – Logan Babin Real Estate & Appraisals – Local Knowledge…National Reputation!

Posted in Houma, Houma Terrebonne Lafourche, LA Commercial Real Estate News, Louisiana Commercial Real Estate, Louisiana Industrial Real Estate | Tagged , , , , , , , , | Comments closed

2014 Real Estate Recap

ClosedLogan Babin Real Estate was blessed once again with a very productive year in 2014.  According to final statistics provided by the Bayou Board of REALTORS and their 2014 Office Ranking Report, Logan Babin Real Estate was involved in 23 transactions totaling $16,221,700.00.

Our office was #1 in the Bayou Board of REALTORS with an average of $705,291.00 per transaction.  This transaction average is 2.25 times larger than the next closest office and four times greater than the entire area’s 2014 average of $171,864.00 per transaction.

Sales included:

The past two years have been very productive with 2013-2014 totals of 45 transactions of $31,476,700.00.  This is a two year average of $699,350.00 per transaction, all recorded by Logan “Hank” Babin, III.

With a primary focus of serving the commercial and industrial real estate markets in South Louisiana, Logan Babin Real Estate strives to provide excellent guidance and unmatched knowledge of the factors that determine value.  This combination serves to the benefit of our client base with proven financial results.  We would like to thank all of our clients who placed their trust and confidence in our office to assist them in these important financial matters.

With the market very cautious about oil prices and the impact on our local economy, it is critical to retain the services of a firm with experience, knowledge, and integrity.

If you or your business is looking to buy or sell, choose the team at Logan Babin Real Estate.  With over 50 years in the business and three generations of service, you will soon discover why we say…

Logan Babin Real Estate – Local knowledge.  National reputation.

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SOLD – Schottel Buys Adjacent 2.3 Acre Tract

Schottel1

Schottel’s Current Facility

Logan Babin Real Estate is proud to announce the closing of a 2.33 acre tract on Denley Road that Schottel has purchased next to their existing facility.  The tract sold today for $333,125.00 or $3.28/SF.  Logan Babin Real Estate represented both the buyer and the seller in the transaction.

Schottel, Inc., a global leader in propulsion systems, opened their new facility at 1741 Denley Road in October of 2013.  This puts them in the heart of Houma’s marine fabrication hub near such companies like Edison Chouest’s LA Ship, Gulf Island Fabrication, Thomassie Boat Builders, the Port of Terrebonne, as well as dozens of other oilfield service companies.  The new tract gives them room for expansion with almost 5 acres of total property along Denley Road.

If you are looking for land or buildings in East Houma, call us at Logan Babin Real Estate or take a look at some of our listings:

The Houma-Thibodaux MSA consistently has one of the lowest unemployment rates in Louisiana and has a 10 Parish retail draw of almost 440,000 people. It was recently ranked #6 of all nationwide mid-sized MSA’s by Area Development Magazine (May 2013) and was #24 overall out of 380 MSA’s in the U.S. This follows a January 2013 article in Forbes magazine naming Louisiana “America’s New Frontier for Business Opportunity”.

To find out why Schottel joins a long list of industry leaders investing in the Houma-Terrebonne marketplace, call us at Logan Babin Real Estate.  We have been serving the commercial and industrial real estate needs of South Louisiana for three generations and over 50 years.

And then you will discover why we say Logan Babin Real Estate:  Local Knowledge….National Reputation!

 

Posted in Houma, Houma Terrebonne Lafourche, LA Commercial Real Estate News, Louisiana Commercial Real Estate, Louisiana Industrial Real Estate | Tagged , , , , , , | Comments closed

SOLD – 4 Tracts on Hwy 182 & Coteau Rd.

Aerial CoteauLogan Babin Real Estate is pleased to announce the closing of another commercial property today.  Four commercial/industrial tracts on the corner of LA Hwy 182 and Coteau Road closed for a combined price of $1.1 million.  The tracts, listed by Logan “Hank” Babin, III, were owned by a family with members both in and out of Louisiana.

The family enlisted our firm’s help to devise a plan how best to divide and market their property.  After months of working with local surveyors, engineers, and the Planning Commission, the larger tract was subdivided into five smaller tracts, with the family retaining a large, wooded area while the remaining four tracts (totaling over 43 acres) were listed in late October 2014.

“We take great pride when a client entrusts their asset to our firm.” Hank said recently.  “It is a responsibility that we take very, very seriously.  Especially when they need advice on how best to market the property.  We firmly believe that our company’s experience in dealing with all facets of commercial and industrial real estate in this market make us uniquely qualified to achieve the results that our clients desire.”

The property generated immediate interest with numerous inquiries and multiple offers presented within the first few weeks of the listing.  The tracts were centrally located just north of Houma with direct access to US Highway 90/Future I-49, “America’s Energy Corridor”, from LA Hwy 182 and also Coteau Road to LA Hwy 24.

If you or your company is looking to buy or sell commercial, industrial, or developmental real estate in Terrebonne, Lafourche, or St. Mary Parishes, please give us a call at 985-872-4597 or visit us on our website at www.loganbabin.com. We have a variety of sites, buildings, and investments to choose from within South Louisiana’s Energy Corridor!

Call us today and you will see why we say (and our clients agree!): Logan Babin Real Estate – Local Knowledge…National Reputation.

Posted in Houma, Houma Terrebonne Lafourche, LA Commercial Real Estate News, Louisiana Commercial Real Estate, Louisiana Industrial Real Estate, Uncategorized | Tagged , , , | Comments closed

SOLD – Downtown Office Sold for Full Price by Logan Babin Real Estate

501RoussellFrontThe former office building of the law firm Watkins, Walker, and Eroche, located in the historic DuPont home in downtown Houma, sold today for full asking price in a transaction brokered by Logan Babin Real Estate.  The grand, 100+ year old converted home was sold for $535,000.00 to Dove Development & Land, LLC to headquarter offices for various business operations.

“We are proud to have been able to serve the Seller’s needs while finding a new home for the Buyer,” agent Logan “Hank” Babin, III said.  “It isn’t easy to leave a building that has been your office for 40+ years.  But to know that a good company will be moving in, taking care of the building, while being an asset to Downtown Houma and our business community, that’s just a win-win for everyone.”

The office building is 1.5 stories and 5,556 SF of GBA.  There are multiple offices and conference rooms sitting on a half acre, tree lined, corner lot in downtown.  Renovations on the building will begin in the near future with the buyer anticipating moving in during the late 1st quarter or early 2nd quarter of 2015.

Watkins, Walker, and Eroche has moved their law firm into the Houma Atrium building on West Tunnel Blvd.

If you or your company is looking to buy or sell commercial, industrial, or developmental real estate in Terrebonne, Lafourche, or St. Mary Parishes, please give us a call at 985-872-4597 or visit us on our website at www.loganbabin.com.  We have a variety of sites, buildings, and investments to choose from within South Louisiana’s Energy Corridor!

Call us today and you will see why we say (and our clients agree!): Logan Babin Real Estate –  Local Knowledge…National Reputation.

Posted in Houma, Houma Terrebonne Lafourche, LA Commercial Real Estate News, Louisiana Commercial Real Estate | Tagged , , , , , , , | Comments closed

New Hotel (and Restaurant) Coming to East Houma

New Holiday Inn Express Hotel Coming Soon to East Houma

New Holiday Inn Express Hotel Coming Soon to East Houma

A new hotel is coming to East Houma and Logan Babin Real Estate is proud to have brokered the deal by bringing the developer and land owner together.  Cajun Lodging, LLC, which operates multiple hotels across South Louisiana, purchased 2.3 acres off of Grand Caillou Road near the East Houma Wal-Mart for their fourth hotel in Terrebonne Parish, a Holiday Inn Express.

According to a recent Houma Courier article, hotel space in Houma is frequently at maximum capacity with some visitors having to stay as far away as Morgan City due to a lack of rooms available.  “This will be another welcome addition to Terrebonne and certainly to East Houma,” said agent Logan “Hank” Babin, III.  “As our local economy continues to flourish, East Houma is seeing some exciting new development.  The widening of Grand Caillou Road, a beautiful new middle school past Woodlawn Ranch Road, new industrial investments from local and international companies, the continued improvement of our levee system…these are all positive steps for the growth of East Houma.”

After evaluating multiple potential locations, the developers zeroed in on the site which satisfied all of their requirements.  The location gives them plenty of visibility from Grand Caillou, has multiple options for ingress and egress, and has full utilities.

The sellers also decided to entrust Hank Babin to list a 1.5 Acre pad site directly in front of the future hotel.  This site was also recently purchased for the future location of a restaurant.

Cajun Lodging currently operates three hotels in Houma (the Holiday Inn on Martin Luther King Blvd., the Best Western at the corner of US Hwy. 90 and LA Hwy. 24, and the recently opened Candlewood Suites extended stay on Corporate Dr.  This new site is scheduled to be home to a Holiday Inn Express.

If you are looking for property in East Houma or anywhere else in South Louisiana, contact us and see why we say: Logan Babin Real Estate – Local Knowledge.  National Reputation.

Posted in Houma, Houma Terrebonne Lafourche, LA Commercial Real Estate News, Louisiana Commercial Real Estate, Uncategorized | Tagged , , , , | Comments closed

Buying or Selling on US Hwy 90?

If you are looking to buy or sell property along Highway 90 (Future I-49), contact our team at Logan Babin Real Estate.  This area is part of an important energy corridor between Port Fourchon and Lafayette.  And we have the experience to either find the right location for you or market your property to sell.

Here are some of our current listings along US Hwy 90:

HIGHWAY 316 INTERCHANGE (BAYOU BLUE)

2630Hwy316Aerialb

235 Acres for Sale near US Hwy 90 on LA 316 in Bayou Blue (Lafourche)  This listing is for 234.46 acres of property just 2 miles south of U.S. Highway 90 (Future I-49) on LA Highway 316 in the growing Houma-Thibodaux MSA and will soon have direct access to the MLK retail corridor with Bayou Gardens extension. The acreage could be used for single-family residential development, commercial/industrial development, or a single large acreage residential tract. The property is dissected by the Hollywood Canal, with 87.75 surveyed acres between Highway 316 and the canal. This tract has 1,183′ of frontage along the highway.  For more details, CLICK HERE

6+ Acres on NW corner of US Hwy 90 & LA Hwy 316 6.15 acres of prime development property just off of the booming US Highway 90 (Future I-49) Energy Corridor on LA Highway 316! The tract has elevations of 8-10’ with the entire tract in current Flood Zone C and proposed Flood Zone X.  A great location for an office, fast food franchise, or possible retail.  High visibility with a booming residential market nearby.  Additional acreage from same owner available on south side of US Hwy 90.  For more details, CLICK HERE

15+ Acres on SW corner of US Hwy 90 & LA Hwy 316 15.42 acres of prime development property just off of the booming US Highway 90 (Future I-49) Energy Corridor on LA Highway 316! The tract has elevations up to 6.7’ with the tract in current Flood Zone C & A and almost entirely in proposed Flood Zone X.  High visibility with a booming residential market nearby.  Additional acreage from same owner available on south side of US Hwy 90.  For more details, CLICK HERE

View from FrontResidential Development Acreage near US Hwy 90 18.5 acres of cleared land with elevations between 6.1′-8.1′ just 1 mile south of US Highway 90 (Future I-49) Energy Corridor on LA Highway 316!  An additional 50 acres of recreational land runs from the Hollywood Canal all the way past Hwy 90.  For more details, CLICK HERE

 

 

HIGHWAY 24 INTERCHANGE (GRAY)

17 Acres on Hwy 90

17 Acres for Sale at US Hwy 90 on LA Hwy 24  17.37 acres of prime development property just off of the booming US Hwy 90 (Future I-49) corridor on LA Hwy 24.  This tract is 300’ wide and extends all the way to Hwy 90.  It has multiple possible outlets onto Eureka Dr., just past H.L. Bourgeois High School.  Could be used for commercial, industrial, or residential purposes.  For more details, CLICK HERE

 

Polmer Bros. Tracts in Terrebonne & Lafourche Parishes  Multiple tracts available north of the U.S. Highway 90 (Future I-49) Energy Corridor just south of Thibodaux.  These tracts offer a variety of development choices from single-family residential, multi-family residential, commercial, retail, industrial, and/or hospitality.  Click on any of the following links for more details about individual tracts: Tract A1 West Park    Tract A2 West Park    Horseshoe Rd

 

aerial12.43 Commercial/Industrial Acres Just 2 Miles North of US Hwy 90  This 12.4 acre tract is located just south of Chevron’s facility on LA Hwy 24 only 2 miles north of US Highway 90.  It currently has a small home that could be utilized for an office conversion or turned into a rent house.  The property extends back behind the home giving plenty of room to build a light industrial facility with room to expand!  For more details, CLICK HERE

 

1 Acre Lot

1 Acre Lot on Hwy 24 Just North of US Hwy 90   ~1 acre lot in front of Standard Crane’s new facility on LA Hwy 24/West Main Street. This location puts your business just 1.1 mile north of US Hwy 90 (future I-49). Property is approximately 160′ of frontage on LA Hwy 24 with a depth of 250′.   Owners will sell the lot (yet to be subdivided) or will entertain a build-to-suit and lease.  For more details, CLICK HERE

 

4697 West Park, 1 Acre just South of US Hwy 90 ~1 Acre commercial lot that sits at the entrance of Southern Estates Subdivision, a 288-lot development that is almost 100% built-up. This tract offers a multitude of uses to take advantage of its strategic position in between Houma and the US 90 (Future I-49) Energy Corridor.  For more details, CLICK HERE

 

 

HIGHWAY 311 INTERCHANGE (SCHRIEVER)

120+ Acres in Terrebonne near Thibodaux  This 121.6 acre tract lies just south of Thibodaux and north of US Highway 90 (Future I-49) and offers a variety of development choices from single-family residential, multi-family residential, commercial, retail, industrial, and/or hospitality.  Almost all of the acreage is cleared and planted with sugar cane.  It has 2,556 linear feet of road frontage on Main Project plus access to Ducros Road and Old Schriever Highway.  Adjacent parcels also available.  For more information click:  450 Main Project Road

West of Main Project Aerial 01600+ Acres in Terrebonne near Thibodaux  This 606 acre tract lies just south of Thibodaux and north of US Highway 90 (Future I-49) and offers a variety of development choices from single-family residential, multi-family residential, commercial, retail, industrial, and/or hospitality.  243 acres in sugar cane, 38.5 acres of crawfish ponds, and 325 acres of wooded hunting land with 2,556 linear feet of road frontage.  Adjacent parcels also available.  For more information click:   451 Main Project Rd

aerial11 Acres with access on Main and Back Project Roads  This listing of an 11+ acre tract 4.3 miles north of U.S. Highway 90 (Future I49) is suitable for commercial, industrial, or residential development. U.S. 90 West is also accessible from LA Highway 20 (5.75 miles).  The tract has frontage on Main Project Road and also has a 50′ wide right-of-way to Back Project Road.  For more information, please click: 118 Main Project Road

 

 

 AMELIA/GIBSON INTERCHANGES:

 AmeliaBusinessCenter1Lots for Sale in Amelia Business Center at US Hwy 90 Commercial or Industrial lots in the Amelia Business Center Subdivision located just off of US Highway 90 (Future I49)  in St. Mary Parish, LA. 23 Lots are currently available in this subdivision along the well-traveled Energy Corridor between Port Fourchon  and Lafayette with great access to the St. Mary, Terrebonne, and Lafourche workforces.   For more details, CLICK HERE

 

Tiger OaksRV Park For Sale in Gibson Just South of US Hwy 90  Tiger Oaks RV Park is an investment opportunity just South of US Highway 90 (Future I-49) in the job growth area of Houma-Thibodaux, LA.  This existing park is on a total tract of 41.3 acres.  This includes 2 subdivided lots fronting LA Hwy 182 (Bayou Black Dr.), 13 Acres of current RV Park, ~10 acres of cleared land for growth, plus 18 Acres of wooded property for accessory use.  For more details, CLICK HERE

 

Logan Babin Real Estate has been honored to help large companies find a home on US Highway 90 as well as help small families find buyers for their tracts along the corridor:

Development Acreage Sold on Hwy 311 Just South of US Hwy 90

4 Tracts Sold on Hwy 182 and Coteau Just South of US Hwy 90

New Home For Laborde Marine

Family Tract to be Converted into Single-Family Subdivision

Danos Selects Terrebonne Tract for New Corporate Headquarters 

Standard Crane Opens New Facility near Hwy 90 

Contact us today and you will see how our knowledge of the Hwy 90 area can benefit you, whether you are buying or selling.  And then you will know why we say: Logan Babin Real Estate – Local Knowledge.  National Reputation.

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Hwy 90 & 316 Corner Sells for $1.75 Million

Logan Babin Hwy 90 I49 Hwy 316For the second time this year, Logan Babin Real Estate and Hank Babin have brokered a 7-digit transaction on the corner of US Highway 90 and LA Highway 316. Today, Highland Oaks Commercial, LLC sold 12.7 acres of property to Labmar Properties, LLC for $1,750,000.00 for a future office of Laborde Marine and possible other potential commercial development.

In April of this year, Logan Babin Real Estate brokered the sale of the same property as part of a larger transaction of 83+ acres of development land and 300+ acres of accessory use land. That property was subdivided by the buyers for the future development of single-family residential housing as well as 12.7 acres for commercial development.

“We are humbled that the original buyers had enough faith in our firm to turn around and hire us to market their commercial property,” Logan H. Babin, Jr., Broker of Logan Babin Real Estate, said. “And we are pleased to once again connect a buyer and a seller to further the economic development of South Louisiana along the Future I49 corridor.”

The Houma-Thibodaux MSA is booming with commercial and industrial development, especially along the Hwy 90/Future I49 corridor.  Site selection is critical for economic success.  And so is choosing the right professionals to assist you.

If you are in the market to buy or sell commercial or industrial real estate, give our team a call at 985-872-4597.  You will soon see why we say: Logan Babin Real Estate – Local Knowledge.  National Reputation.

Posted in Houma Terrebonne Lafourche, LA Commercial Real Estate News, Louisiana Commercial Real Estate, Louisiana Industrial Real Estate | Tagged , , , , , , , , , | Comments closed

South Louisiana Economic News Update

There has been plenty of positive economic news regarding South Louisiana lately.  Here are just a few articles from various news outlets:

Pact Forged to Train LA’s Offshore Oil, Gas Workforce  July 24 – From The Advocate

Bollinger Shipyards Awarded $255M Contract by Coast Guard  July 24 – From NOLA.com

LA Adds 19,200 Jobs Over 12-Month Period July 24 – From The Advocate

Gulf Coast Holds Oil From Shale Formations in Abundance  July 23 – From The Advocate

LA Leads Nation in Industrial Construction Value July 23 – From The Advocate

FERC Approves Cameron LNG Site Clearance July 20 – From The Advocate

Shell Announces Oil Discovery in the Gulf July 19 – From The Advocate

Yuhuang Chemical Announces $1.85 Billion Investment in LA – July 17 – From LA Economic Development

Maybe all of this positive news is why Louisiana has 6 of the Top 10 Happiest Cities in the US!

We here at Logan Babin Real Estate continue to serve our clients who help to contribute to more positive economic news.  Recent closings will mean more hotels, single-family housing, office complexes, and light industrial facilities.  And we currently have millions of dollars of property under contract awaiting closing.

When you are ready to add your economic news to the growing South Louisiana marketplace, give our firm a call.

Logan Babin Real Estate – Local Knowledge.  National Reputation.

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Houma and Louisiana are Happy! Happy! Happy!

A recently released study ranked the Houma-Thibodaux area as the second happiest place in the country.  In fact, Louisiana had the Top 5 cities overall with Lafayette as #1, Shreveport-Bossier City #3, Baton Rouge #4, and Alexandria #5.  Lake Charles was in the Top 10 at #8.  In contrast, New York City was named the unhappiest place in America.

Houma-Thibodaux Named 2nd Happiest Metro Area in US – Houma Courier Article

Top 5 Happiest Cities in US are All in LA – NBC News Video

The Happiest & Unhappiest Cities in America May Surprise You – Huffington Post Article

Oddly enough, the same day, a New York Times report ranked Terrebonne and Lafourche as some of the “Hardest Places to Live in the US”.  So either the Houma-Thibodaux region has some of the most resilient people anywhere (to be so happy in such a hard place to live).  Or the unhappiest city (New York) was simply trying to bring us down from our happy place!

The team at Logan Babin Real Estate is happy about our market and the future of South Louisiana real estate.

Give us a call and see why we say: Logan Babin Real Estate – Local Knowledge.  National Reputation.

Posted in Houma, Houma Terrebonne Lafourche, LA Commercial Real Estate News, Louisiana Commercial Real Estate, Louisiana Industrial Real Estate | Tagged , , , | Comments closed