Metairie office tower near Causeway bridge changes hands

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A Metairie office tower near the intersection of Causeway Boulevard and West Esplanade Avenue has been sold to a Texas real estate firm.

The 184,608-square-foot, 14-story high-rise office Executive Office Tower at 3500 North Causeway Blvd. will remain a multi-tenant office tower, according to a news release from Stirling Properties, the commercial real estate company that brokered the sale.

The building was purchased by “a well-established real estate firm out of Dallas” as an investment property, the news release said. It did not identify the seller or buyer or the purchase price.

Keystone Engineering is one of the office tower’s tenants. The new owners plan to upgrade the property, remarket it and increase its occupancy rate.

“This sale truly demonstrates the strength of the New Orleans office market—particularly in the suburban office market area of Metairie,” Roger Bajon of Stirling Properties said in a statement. “We have worked with this buyer for quite some time to secure the acquisition of this property. The Executive Office Tower’s aesthetic attraction, ample surface parking, strong historic occupancy and strategic location in such a desirable business district are all key factors that brought this deal to fruition.”

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