The Algiers office building where FEMA set up shop after Hurricane Katrina is in the hands of new owners.
The Westpark Office Building near General DeGaulle Drive was sold to locals Thomas Guinan Jr. and Harold Callais II. The seller was the Hertz Investment Group. The Los Angeles-based Hertz is one of the largest office players in the New Orleans market, having recently purchased One Shell Square.
Westpark Office Building is a 6 story building built in 1983, and had been the Algiers offices of FEMA until earlier this year. The property includes 7 acres of developable green space, 500 parking spaces and two helicopter landing pads. The owners likely plan to redevelop the property to take advantage of the prime location on General DeGaulle (maybe more retail?).
Hertz bought the building in 2005 for $7 million. Although the purchase price was not disclosed,Hertz had it listed for $4.9 million back in March.
Corporate Realty now has the listing for leasing space.
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