Cox Communications Sells HQ Building For $13,750,000

by • March 11, 2016 • Acquisitions, Jefferson ParishComments (0)2955

Photo of the Cox Communications building at 2121 Airline Drive via Property One online listing.

Photo of the Cox Communications building at 2121 Airline Drive via Property One online listing.

The local headquarters for Cox Communications at 2121 Airline Drive has been sold to H.W. Kaufman Financial Group, a specialty insurance firm.

The Class B, six-story, 125,000-square-foot building was purchased for $13,750,000, or roughly $110/foot.

Kaufman says the building will be rebranded as the Burns & Wilcox Center.  Burns & Wilcox is an insurance wholesaler and this will serve as their local headquarters. They rented 20,000 square feet, and Cox will keep 48,000 square feet for offices on the first three floors on a five-year lease at $19 per square foot.

The building had been on the market since early 2015 and officially closed December 28, 2015.  The property listing had the exact square feet at 123,232 on 4.7 acres of land.  In the listing, Cox offered to lease back 48,132 square feet at $19 per square foot

The building was originally built in 1984 for $21 million, and Cox bought it in 2003 for $14 million.

Property One was the listing broker on the deal.

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