Real Estate Recap: January 2, 2013

From the Baton Rouge Business Report, Real Estate Weekly

Getting in tune: Perkins Rowe is getting a new tenant that will be part live-music venue, part Mexican restaurant. Lava Cantina is set to open in late spring and will be located in the 6,700-square-foot space next to California Pizza Kitchen that previously housed The Grill Room. "This is the first of its kind," says Steve Vaughn, who is launching the restaurant as a retirement business with his son, Ian Vaughn, who lives in Dallas. "But we hope it will be the first of many." Get more details from Daily Report here.

Double dose: Terry Saban of Tuscaloosa, Ala., the wife of Alabama football coach Nick Saban, has purchased nearly two acres of vacant land at Perkins Rowe for $750,000, according to documents filed at the city-parish Clerk of Court. The two tracts—0.94 acres and 0.85 acres—were contractually signed by Terry Saban as "sole member" of TLS Investments LLC. Daily Report has more details on the deal here.

Further on up the road: Ethan Allen, which has occupied the same site on Florida Boulevard for more than 30 years, is moving to a newly renovated building it purchased earlier this year on Perkins Road at Bluebonnet Boulevard, across from Perkins Rowe. The move across town says a lot about the shifting demographics in Baton Rouge and where retailers perceive the action to be. "You're going to see a lot more shifts from the Florida/Airline area to Perkins/Bluebonnet/Siegen," says realtor Chad Ortte. The full story from Daily Report can be found here.

This week's poll question: Do you plan to buy or sell a home in the new year?

Read more from Business Report here: http://www.businessreport.com/section/businessreport0113?utm_source=contactology&utm_medium=email&utm_campaign=RealEstateWeekly#ixzz2GqqzhxlV