A title issue caused the delay of the auction of a major downtown Shreveport building, says Realtor Beth King. She says the title is now clear and 525 Milam, the former Texas Eastern, later Arkla, then CenterPoint office building, is good to go for an auction July 21 to 23.
More than 633,000 people have looked at the 293,917-square-foot property online, and King says there is still plenty of time to walk the 14 floors of the steel and concrete building.
The listing states that the 1950 building at the corner of Milam and McNeil streets across from the Caddo Parish Courthouse is “well maintained” with passenger elevators and 24/7 security access. It includes a data center with a Liebert three-phase power unit, an uninterruptible power supply backup, and halon gas fire suppression.
The building qualifies for both state and federal historic tax credits, which could amount to 45% of all “qualified” costs. Other tax credits and a PILOT — payment in lieu of taxes agreement — are possible…