EAST BATON ROUGE, La.–One credit union here has sold an office building to another.
Pelican State Credit Union has sold a South Sherwood Forest office building to EFCU FCU for approximately $2.8 million deal.
According to The Advocate, the 45,320-square-foot building was empty for nearly a year after Pelican State moved its headquarters to a new building on O’Neal Lane.
Pelican State had operated from the building on Sherwood Forest for more than a decade after it bought the former Piccadilly Restaurants headquarters in 2009. The $526-million Pelican State CU was founded in 1956 as Department of Hospitals Credit Union.
The Sherwood Forest office is about double the size of EFCU’s current offices, David Vercher director of KW Commercial-Baton Rouge, which represented EFCU, told the Advocate. The credit unions plans to spend several months restoring the building before it moves in.
The $612-million EFCU was founded in 1934 as the Stanocola Processing Employees FCU.