(Orange, Texas)

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June 16, 2013

Sears site owned by City of Lake Charles sold

LAKE CHARLES — The former Sears Retail Site owned by the City of Lake Charles located in the 600 block of Ryan Street has been sold to FPL, LLC which is managed by Roger Landry. The purchase price of the land was $1,065,000. The documents were executed by the last party on June 12 and the proceeds of the sale were disbursed to the City of Lake Charles on June 13.

The City of Lake Charles entered into an agreement to sell the property according to the authority granted by the Lake Charles City Council after the legal process of declaring the property as surplus, November 2012. After an environmental due diligence period which was extended once, finalizing the title curative matters which were related to contracts filed in connection with the environmental remediation work on the site, the closing is complete.

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