Bayou Verret Lands Purchases $10 Million Metairie Centre Office Building

by • February 15, 2017 • Commercial, NewsComments (0)5697

Joseph C. Marcello is one of Jefferson Parish’s largest landowners. His company, Bayou Verret Lands, has just purchased the office building located at 2424 Edenborn Ave. in Metairie from Edenborn Partners LP, owned by Philip Bulliard.

The 90,700-square-foot Metairie Centre complex was built in 1986 and has been owned and managed by Bulliard ever since.  The six-story building has an adjacent parking garage and offers free parking to tenants.  Space is currently listed for lease at $19.50/square foot.

Land records show the sale price at $100, which means the actual purchase price was not released during the January 5th transaction. The building was previously listed for over $10 million.

Marcello is the son of the late Carlos Marcello, the notorious crime boss. The family has owned land in the area for decades, some of which has been donated over the years by Joseph.

Attorney Michael Sherman represents the company. “Metairie Centre presented a great investment opportunity of a stabilized building in our region’s most stable office market. We are aggressively looking to lease upwards of 15,000 square feet which is a rarity in Metairie,” he said.

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