T
he East Baton Rouge Parish commercial real estate market kicked off the new year with a surge in sales transactions and deal velocity, according to Elifin Realty's latest data. Sales rose by 2.25% in January, with the trailing 12-month total dollar volume reaching $403 million at the end of last month, up from $394.2 million in December.

    Multifamily sales saw a significant increase, jumping 8.52% to $82.5 million in January, compared to $76 million in December. Property values per unit rose to $53,800, up from $53,400 the previous month. Retail sales volume remained relatively stable, increasing to $88.1 million from $87.3 million in December, while deal velocity rose 1.27%.

    The office sector experienced a boost in sales volume and deal velocity but saw a decline in property values. Sales volume increased by 6.72% to $88.5 million, but property values dropped to $142.92 per square foot from $145.64 in December.

    Industrial sales volume declined by 10%, dipping to $47.6 million in January from $52.9 million in December. However, the price per square foot rose to $65.42 from $63.95. The land sector saw increases across the board, with a total volume of $42.3 million in January compared to $40.3 million in December. Deal velocity for land sales rose by 4.76%.