01 November 2004 ~ Comments Off on Louisiana Cowboy Town SOLD for 2.9 Million!

Louisiana Cowboy Town SOLD for 2.9 Million!

Categories:auction results

FOR IMMEDIATE RELEASE

Contact:
David Ebeling
Sperry Van Ness
(949) 225-1883
mailto:ebelingd@svn.com             

SPERRY VAN NESS/GILMORE AUCTION & REALTY CO., COMPLETES THE SALE OF LOUISIANA COWBOY TOWN MULTI-EVENT EXHIBITION COMPLEX in ALEXANDRIA, LOUISIANA, FOR $2.9 MILLION

ALEXANDRIA, La., November XX, 2004 – Sperry Van Ness/Gilmore Auction & Realty Co., one of the nation’s largest commercial real estate investment and accelerated marketing firms has completed the sale of Louisiana Cowboy Town Multi-Event Exhibition Complex, a 200,000-square-foot complex on 27.75 acres, to an Alexandria, Louisiana-based private investor for $2.9 million via auction. The property was ordered to be sold by the U.S. Bankruptcy Court and a major creditor.  The facility is located at 7225 Highway 1 North in Alexandria, La. near Interstate 49. 

David Gilmore & Francis Braud, national auctioneers for Sperry Van Ness/Gilmore Auction & Realty Co., in Kenner, La., and Beau Box of NAI/Latter & Blum Realtors represented the seller, Alexandria, La.-based, Louisiana Cowboy Town LLC.  They were also responsible for the auction.  Maurice Hebert of Noles-Frye Realty represented the buyer, an Alexandria, La.-based private investor.

Originally built in 1999, Cowboy Town Multi-Event Exhibition Complex encompasses a 60,000-square-foot arena, 90,000-square-foot show barn, 20,000 square feet of retail and restaurant space, fully equipped concession areas, banquet/VIP suites and an advanced ticketing system.

The sale was closed after a live auction offer for $1.1 million, two post-auction offers for $1.375 million and $1.7 million and finally another live auction at the bankruptcy court hearing for a $2.9 million final bid.

According to Gilmore, auctions are a great way to accelerate the sale of uncommon, trophy properties like Cowboy town and buyers typically are able to purchase at a discounted price below replacement cost.  Auctions are also an ideal way to motivate hesitant buyers into action and expand market reach by employing programs that expose properties to a geographically unlimited audience.

Founded in 1987, Sperry Van Ness has rapidly expanded in the past two years from a small firm in nine Southwestern United States markets to one of the nation’s leading commercial real estate brokerage firms serving clients in more than 100 markets nationwide. Sperry Van Ness provides advisory, brokerage, consultation, asset management, property management, leasing, financial, accelerated marketing and auction services. To provide the highest value to its clients, Sperry Van Ness is the only national firm that implements a broker marketing plan in addition to its investor marketing plan for all listings. Guided by this principal of cooperation, Sperry Van Ness, based in Irvine, Calif., has advised clients on billions of dollars in multifamily, retail, industrial, office, hospitality and land transactions. For more information, please visit http://www.svn.com/.

3316 Florida Ave. Suite 201 • Kenner, Louisiana 70065 USA
Phone (504) 468-6800 •Fax (504) 468-6811

Broker: David E. Gilmore
Licensed By The Louisiana Real Estate Commission
Licensed in Louisiana, Mississippi, Arkansas and Oklahoma
A Division of Gilmore-Braud Companies

Auctioneer: David E. Gilmore
Licensed in: Alabama #1832 • Arkansas #1979 • Louisiana #0447
Mississippi #378/641F • Texas #11136


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