News Summary
An auction for the former CenterPoint Energy building in Shreveport, Louisiana, is set for July 21-23, with a starting bid of $250,000. The property has generated interest from over 633,000 online viewers. Title issues have been resolved, allowing the auction to proceed. The building offers 293,917 square feet, 14 floors, on-site data center facilities, and potential eligibility for state and federal tax credits. The auction will be conducted as-is, hence potential bidders are advised to prepare adequately.
Shreveport, Louisiana – An auction for the former CenterPoint Energy building located at 525 Milam Street is scheduled to take place from July 21 to July 23. The property is generating significant interest, having attracted over 633,000 online viewers since the auction announcement.
Realtor Beth King indicated that previously existing title issues that delayed the auction have now been resolved, allowing the event to proceed as planned. The starting bid for the property will be set at $250,000, and interested bidders must register to participate in the auction. Bidders are also required to present proof of funds and sign pertinent documentation to be eligible for bidding.
The office building, which comprises 293,917 square feet and includes 14 floors, is situated at the intersection of Milam and McNeil streets, directly across from the Caddo Parish Courthouse. Built in 1950, the property is noted for being well maintained and equipped with essential features like passenger elevators and 24/7 security access.
One of the notable aspects of the 525 Milam Street property is its on-site data center, complete with advanced facilities such as a Liebert three-phase power unit, an uninterruptible power supply backup, and halon gas fire suppression for heightened safety. Additionally, the building’s historical significance allows it to qualify for both state and federal historic tax credits, which could potentially cover up to 45% of “qualified” expenses related to redevelopment.
The property is zoned under the D-1CBD district, which permits a variety of potential uses, including residential, office, retail, banking, or broadcasting facilities. This zoning flexibility may attract local developers looking to enhance housing availability in Shreveport.
In its history, the building has served as the headquarters for the Arkansas-Louisiana Gas Company and later for CenterPoint Energy until 2022, when it was sold to a developer from Bakersfield, California, for $971,250. Before that sale, the property was on the market for an asking price of $2.4 million in 2020.
The auction will be conducted as-is, meaning that there will be no contingencies attached to the sale and no due diligence period for the winning bidder. As a result, any investors or developers interested in acquiring the property must be adequately informed and prepared for potential redevelopment challenges.
For those seeking further information about the auction and the property, contact details for Liz Swaine have been provided for inquiries.
As the auction date approaches, the significant online attention suggests a robust interest from various potential buyers, indicating the potential for future development and revitalization efforts within Shreveport.
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Additional Resources
- Shreveport Bossier Advocate: Downtown Highrise Auction
- Wikipedia: Shreveport
- Shreveport Bossier Advocate: CenterPoint Building Auction
- Google Search: CenterPoint Energy
- Data Center Dynamics: Office and Data Center Auction
- Google Scholar: Shreveport Real Estate
- Shreveport Times: CenterPoint Workforce Reduction
- Encyclopedia Britannica: Shreveport
- Shreveport Bossier Advocate: Downtown Meeting Topics
- Google News: Shreveport Business
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.
