News Summary
A historic 17-story building at 525 Milam Street, Shreveport, will be auctioned starting July 7. Spanning 287,440 square feet, it presents opportunities for investors, including potential residential redevelopment. The auction begins with a $250,000 starting bid, emphasizing the ‘as is’ sale condition. Prospective buyers will need to demonstrate proof of funds. The property’s recent interest includes possible conversion into office spaces or a data center, with a chance to benefit from federal and state historic tax credits, enhancing its appeal amidst Shreveport’s revitalization efforts.
Shreveport, La. — The historic building at 525 Milam Street in downtown Shreveport will go up for auction starting July 7. The auction, set to last for 48 hours, marks a significant opportunity for potential buyers to acquire a noteworthy piece of real estate in the area.
Spanning an impressive 287,440 square feet, the 17-story building has been part of Shreveport’s skyline since its establishment in 1950 and has previously served as the headquarters for Arkla Gas and later CenterPoint Energy. As part of the auction process being conducted by Ten-X, an organization with a proven track record in auctioning properties in the Shreveport and Bossier regions, the property is expected to draw interest from a variety of investors.
The auction will begin with a starting bid of $250,000. Prospective bidders will need to provide proof of funds and sign requisite documents to participate. The auction stipulates that the property will be sold “as is, where is,” without contingencies or a due diligence period, emphasizing the need for bidders to be thoroughly informed before placing their bids.
Featuring amenities such as basement parking, a generator, and seven elevators, the building is marketed as being turnkey ready for office use. In addition, there has been considerable interest in the potential to convert it into residential units, including studio and 1-bedroom apartments. A detailed floorplan for redevelopment will be made available in the informational packet provided by the Realtor, Beth King.
Further interest has also been expressed in transforming the building into a data center, highlighting the versatile possibilities that accompany this property. Notably, there is potential for the property to qualify for federal and state historic tax credits, which could offer substantial returns of up to 45% on eligible rehabilitation and improvement costs.
The last purchase of the building was made by a developer from Bakersfield, California, in 2022 for $971,250. Prior to that, it was listed on the market around 2020 for $2.4 million, which adds context to its current auction price. The prospective sale of 525 Milam Street comes at a time when Shreveport is experiencing revitalization efforts, with significant investments made in the area.
One prominent figure possibly eyeing the property is the rapper 50 Cent, who has already invested over $4 million in Shreveport as part of plans to establish G-Unit Studios. His interest in the area has sparked speculation about a potential acquisition of 525 Milam Street to further bolster his investment and contribute to the ongoing development within the city. The previous owner of the building failed to take further action for its development before it was placed up for auction.
As the auction approaches, the community and interested investors alike will be watching closely to see who steps forward to take on this historic building and the myriad possibilities it holds for the future of downtown Shreveport.
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Additional Resources
- Shreveport Bossier Advocate
- Wikipedia: Shreveport
- Data Center Dynamics
- Google Search: Shreveport real estate news
- K945
- Google Scholar: Shreveport property auction
- Shreveport Times
- Encyclopedia Britannica: Shreveport
- Data Center Dynamics Analysis
- Google News: Shreveport business news
Author: STAFF HERE SHREVEPORT WRITER
The SHREVEPORT STAFF WRITER represents the experienced team at HEREShreveport.com, your go-to source for actionable local news and information in Shreveport, Caddo Parish, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Mudbug Madness Festival, Red River Revel Arts Festival, and Independence Bowl. Our coverage extends to key organizations like the Shreveport-Bossier Chamber of Commerce and Shreveport Regional Arts Council, plus leading businesses in gaming, healthcare, and energy that power the local economy such as Horseshoe Casino, Ochsner LSU Health, and Atmos Energy. As part of the broader HERE network, including HEREBatonRouge.com and HERENewOrleans.com, we provide comprehensive, credible insights into Louisiana's dynamic landscape.
