The Greater Lafourche Port Commission announced last week that it plans to purchase more than 850 acres of land south of Leeville, including all Caillouet Land LLC-owned industrial property in Port Fourchon, reports the Lafourche Gazette.
The $36.7 million purchase will include unrestricted access to Fourchon Island, paving the way for construction of a new Fourchon Bridge, and will leave the Port Commission as the exclusive manager of all industrial property situated within Port Fourchon.
GLPC Executive Director Chett Chiasson says the $36.7 million purchase will bring a $1.4 million annual net benefit when considering yearly rent savings and new rent collections. Read the entire story.
