Tulane Tower for Sale
NEW ORLEANS — Corporate Realty has announced that it is representing the ownership in the sale of Tulane Tower, located at 2601 Tulane Avenue. The asking price is $8,450,000.
The 10-story, 111,000-square-foot office building has an attached three-level, 205-space parking garage and two adjacent parking lots. The only office tower in Mid-City, it is located along a major corridor that connects Mid-City with downtown New Orleans. It is directly adjacent to the city’s criminal court system and provides easy access to major transportation arteries.
The building is within a few blocks of the BioMedical District, which includes University Medical Center and Tulane Hospital. Also nearby are Whole Foods Market, the Broad Theater and the Lafitte Greenway, a 2.6-mile linear park for pedestrians and bicyclists that has encouraged the development of restaurants and bars. The building is minutes from the Central Business District.
“Tulane Tower is a well-located office building with exceptional parking that has the potential to be a great investment for a value-add investor. We expect strong interest in this unique asset,” said Michael J. Siegel, Corporate Realty president.
The new owner will benefit from an in-place income as well as an opportunity for redevelopment and/or increasing income opportunities. The two additional lots consist of six parcels total and can also be directly monetized. Located in an Opportunity Zone (Zone 60), the property qualifies for state and historic tax credits.