Two Louisiana-based firms—JRE Capital and Ratcliff Development, partnered to purchase nearly 200 acres in Geismar for a new logistics park.
The firms purchased the 186 acres of farmland through Magnolia Ridge Investment LLC from L.J. Grezaffi’s LJG Land Company LLC for $10.9 million, according to a deal filed Tuesday with the Ascension Parish Clerk of Court’s office. Ratcliffe Development President Gregg Thompson and JRE managing partner Trey Williams represented the buyer.
The planned Magnolia Ridge Logistics Park will be north of La. 30 and less than 2 miles west of Interstate 10. The park aims to attract national and international logistics companies looking to establish a presence along the I-10 corridor.
Magnolia Ridge will offer access to major metros and key transportation hubs like the Port of Greater Baton Rouge, the Port of New Orleans and the Port of South Louisiana.
The project will begin the subsequent phases of development shortly after closing. Construction is set to start in early 2025, beginning with earthwork preparing the site for infrastructure improvements such as utilities, roads and grading. The phase will continue through October 2025, with lots projected to be ready to sell near the end of 2025.
The logistics park will feature 14 individual lots zoned for light to medium industrial use. The lots will range from 2 to 21 acres.
The project will be marketed by Lee & Associates, represented by Evan Scroggs.
