30 May 2007

rod noles economic update radio notes 30 may 2007

one item of note in this weeks rod noles email, concerns the awarding of a 5.8 [4.3 eur] million dollar construction contract by the rapides parish school board to local politically connected ratcliff construction company. ratcliff is the same company that couldnt even competently build the reported $8.2 million [6.07 eur] dollar coughlin-saunders performing arts center. it leaks like a sieve.

this is another reason why the city of alexandria should have released (the still unreleased) quick & associates, coughlin-saunders leak report. perhaps if the school board would have had the opportunity to have read the (so far) secret report it just might have influenced a decision to award this contract for a new buckeye high school to some other construction company. thanks to the massive waste, fraud and abuse (but mostly fraud, corruption and incompetence) continually perpetrated by our elected leaders we see over and over again no accountability whatsoever in the awarding of juicy governmental contracts to the same ol architects, surveyors, engineers, contractors etc., etc. etc.

Largest construction contract of the week Rapides Parish School Board (619 Sixth St., Alex., LA 71301) to Ratcliff Construction (1715 England Dr., Alex., LA 71303) - New Buckeye High School, $5,803,000.00
Best example for creative ideas with real estate To create value you must come up with creative idea: for the month is Conference Center at the Green, former Rapides country club, Jay Pearson (who will guest host show next time I am teaching or out of town) John Theriot and other have put together creative land use, 100 acre nursery, golf cart sheds flea market, rv park and gem stone is new conference reception center first class grand opening Thursday June 7th and I understand we will be doing a remote their. Creativity and Courage at its best wish them a huge success.

Best buy of the week: Matt Ritchie buys $1,500,000 listing on Winn Dixie in Bunkie 48,000 sf for $207,000

Largest sale of the week George H Lyles, et al (27 Bayou Road, Cheneyville, LA 71325) to B & J Ranch, LLC (11234 George Lambert Road, St. Amant, LA 70774) - 1843.52 acres in Sec 5 & 6, T1SR1W, Sec 36, T1NR1W, & Sec 29-32, T1NR1E, $3,272,256.80 close to $1,800 per acre loan of $3,000,000 rumor professional ball player. B & J Ranch to First NBC Bank (210 Baronne St., New Orleans, LA 70112) - 1843.52 acres in Sec 5 & 6, T1SR1W, Sec 36, T1NR1W, & Sec 29-32, T1NR1E, $3,000,000.00

Big property on Jackson street sells Jesse B Newcomer, Jr. (2027 Jackson St., Apt. 1, Alex., LA 71301) to Wasmer Properties (2001 Jackson St., Alex., LA 71301) - Tract in or near Blk 60, Clarence Park Addn., et al (2030A Jackson St., Alex., LA 71301), $575,000.00 Wasmer Properties (2001 Jackson St., Alex., LA 71301) to Capital One (313 Carondelet St., New Orleans, LA 70130) - Tract in or near Blk 60, Clarence Park Addn., et al (2030A Jackson St., Alex., LA 71301), $550,000.00. Dianne Whaley listing agent, I think she sold it also

Property that sold the most times: Missions Milling Co. NATHAN PATRICK CALHOUN (P O Box 520, Libuse, LA 71348) to Bluebonnet Entertainment H. K. STANLEY, 5308 NORTH BLVD (P O Box 11887, Alex., LA 71315) - 6.33 acres in Sec 57, T3NR1W (7603 Hwy. 71 S, Alex., LA 71302), $890,000.00 Bluebonnet Entertainment (528 Monroe St., Alex., LA 71301) to Red River Bank (1412 Centre Court, Alex., LA 71301) - 6.33 acres in Sec 57, T3NR1W (7603 Hwy. 71 S, Alex., LA 71302), $894,666.75. Dale Daenen selling agent, Gary McKay listing agent

Deal that makes the most sense: City and State trading properties takes a Legislative act SB24 authored by New Orleans law maker. Good idea to combine mix use for fire station and red cross office. A good idea for state to take possession of Rail road right of way next to DOTD office on MacArthur drive, new law, appraisal, and right attitude this deal should happen. Kudos to all who are working on this deal.

Rumor of the week USDA credit Union land lease for mobile unit for ground lease on vacant property next to Turpin, owner Robert Wolfe

Darn there closing shop deal of the week PJ Coffee closed open for 5 years Quinn gave it his best, with first child and wife’s career as CFO with Red River. They thought as a couple it was time to move on.

Other Deals of interest

Charles A Maxwell, et al (140 Browns Bend Road, Alex., LA 71303) to Bayou Rapides Development (3704 Coliseum Blvd., Alex., LA 71303) - 19.3408 acres in Sec 21, T4NR1W, $415,810.00 close to $21,500 per acre Key Realty had it listed. Ties into Forester property Leona had listed and Wanda Vanover sold

William F & Ann F Terbot to Alfred A Mansour, Sr., et al - 12.4989% interest in Memorial Drive Partnership, $150,000.00

Ballina Farms (P O Box 12487, Alex., LA 71315) to Robert L Gaspard, Jr. (505 Downs Lane, Alex., LA 71303) - 5.039 acres in Sec 2 & 3, T5NR2W, $75,000.00. Priced at $15,000 per acres

David Bridal construction to start soon 270 locations nationwide will be open by end of 2007, have stores in Monroe, Bossier City, Baton Rouge, Slidell and Metairie first store opened in 1950

Hampton Inn at Cracker Barrel interchange 106 room Hampton Inn will open this August.

Dagwood coming out of the ground in front of Mac this building looks too large for one tenant, bet there is co-tenant
Lakes every where many of new developments have lakes or pond would like to claim Lake District lead the way on this but actually England Authority constructed the first one and then the city with ball parks, Lake District was leader in private developments. Noticed new lake on twin bridges call Adam Gerace and asked who was building TL Construction Tracey Briedtup.

Banks, branches,

Union Bank has under contract new site on 28 west just over one acre

Charles A & Elizabeth W Pospisil (128 D Craig Road, Deville, LA 71328) to Bank of Jena (P O Box 351, Libuse, LA 71348) - Tract in Sec 6, T4NR3E, $500,000.00 not sure where this is

Evangeline Bank to Migues Deloach Co. - Evangeline Bank, Pineville Branch Project, $1,314,000.00

Medical on the move

Ingrish Enterprises (2715 Marye St., Alex., LA 71301) to Giatano, LLC (5229 Lark Lane, Alex., LA 71303) - Lot J & part of L, Wilshire Park Subd. (1268 Southampton Dr., Alex., LA 71303), $299,500.00 Johnny Hesni listing agent, Mary Jo Mansour selling agent

Dr. Karsan buys two buildings in Fireside from Randy Mansour

Construction contracts Rapides Parish Police Jury to D & J Construction Co. - Ward 10 road improvements on Baum Road, Country Club Dr., et al, $3,705,975.89

Prices continue healthy increase in values

St. Andrews near $400,000 Elbert G & Dorothy T Fuqua (3002 Old Marksville Hwy, Pineville, LA 71360) to Enrico C Bunyog, II (1908 Eric St., Winnfield, LA 71483) - Lot 73, St. Andrews Links Estates, Phase 2, et al (236 Links Dr., Alex., LA 71303), $373,890.00

West Pointe over $300,000 Elite Development, LLC (300 Wilderness Dr., Boyce, LA 71409) to Leila K Dablan (6437 Bayou Crossing Dr., Alex., LA 71303) - Lot 279, West Pointe on the Bayou, Phase XI (6437 Bayou Crossing Dr., Alex., LA 71303), $310,792.00

Martin Park over $250,000 Lonnie W Lambert, et al (1241 Texas Ave., Alex., LA 71301) to Adair S Williams (300 Lakeshore Parkway, New Orleans, LA 70124) - Lot 8, Sq B, Martin Park Subd. (3916 Pecan Dr., Alex., LA 71302), $251,000.00

Fairway Estates near $350,000 Caroyl D & Marilyn L Bryan (301 Western Hills Road, Boyce, LA 71409) to James A Hodges, Jr. & Sharon S Hodges (1526 Masters Dr., Pineville, LA 71360) - Lot 4, Fairway East Subd., Unit II, $346,500.00

Third set of 8 condos each prices near $135,000 to $152,000 Brittain & White Construction (5521 Jackson St., Alex., LA 71303) to Paul W Kyle, III & Frances N Kyle (412-F Ansley Blvd., Alex., LA 71303) - Unit 412-F, Cypress Point at Lake District Condominium (412-F Ansley Blvd., Alex., LA 71303), $134,500.00 / Brittain & White Construction (5521 Jackson St., Alex., LA 71303) to John M & Lisa K Edenfield (421-H Ansley Blvd., Alex., LA 71303) - Unit 412-H, Cypress Point at Lake District Condominiums (412-H Ansley Blvd., Alex., LA 71303), $152,000.00

So many ownership names

Proactive Investments CAROL MARIE RHODES WHITE (P O Box 12353, Alex., LA 71315) to Boomer Investment Properties Kenny Daniels local lawyer, turned investor, good sign (1454 Peterman Dr., Alex., LA 71301) - Tract in Sec 19, T5NR1E (249 Deeson Dr., Ball, LA 70405, et al), $250,000.00

Down Home Properties BRYAN D. NORMAND (6361 Twin Bridges Road, Alex., LA 71303) to Michael D Slocum, II (400 A Big Lake Road, Pineville, LA 71360) - Tract in Sec 41, T4NR2E (815 Denny Road, Deville, LA 71328), $110,000.00

Misty D Luneau (5028 Old Marksville Hwy., Pineville, LA 71360) to Petre Tree Surgery, Inc. DOMINIC PETRE, 773 WILLIAMS LAKE ROAD, PINEVILLE, LA 71360 (P O Box 3307, Pineville, LA 71361) - 3.176 & 4.439 acre tracts in Sec 26, T4NR1E (3748 Cactus Dr., Pineville, LA 71360), $90,000.00

M. S. of Cenla Properties MARK D. SETLIFF, 4410 HWY. 119, MELROSE, LA 71452 (P O Box 12411, Alex., LA 71315) to Excellence In Development, LLC PAMELA ROBINSON, 204 VILLAGE LANE, LAFAYETTE, LA 70501 - Tract on or near intersection of England Dr. & Brown's Bend Road, $95,000.00

Tabb Realty PARRISH RITCHIE, 8550 UNITED PLAZA BLVD., BATON ROUGE (41615 Ann Arbor Road, Plymouth, MI 48170) to Pak Realty (41615 Ann Arbor Road, Plymouth, MI 48170) - 45.91 acres in Sec 36, T5NR1W, $600,000.00

SFJV 2004-1, LLC to REO Management 2004, Inc. RANDALL COSTA, 390 GREENWICH STREET, 4TH FL., NEW YORK, NY 10013 - Part of Lots 15 & 16, Bonnie Crest Subd., $105,000.00

Cascar, LLC ELIZABETH W. CASSANO, (510 Ansley Court, Alex., LA 71303) to Jack Hunter, Jr. (995 Bayou Trace Dr., Alex., LA 71303) - Lot 36, Bayou Court Townhomes, Phase VI (995 Bayou Trace Dr., Alex., LA 71303), $120,000.00

Loans worth mentioning

Crest Properties (4725 Hwy. 28 E, Pineville, LA 71360) to Regions Bank (3580 Hwy. 28 E, Pineville, LA 71360) - Tract in Sec 3, T4NR1E, et al (4725 Hwy. 28 E, Pineville, LA 71360), $2,650,000.00

Deion A Duruisseau (129 Sunridge Road, Alex., LA 71302) to Harrison Finance Co. - Part of Lot 10, Willow Glen Land Co. Subd., et al (129 Sunridge Dr., Alex., LA 71302), $800,000.00