NEW ORLEANS (AP) — Louisiana's tallest building, One Shell Square, has been sold for an undisclosed amount to Hertz Investment Group.
Multiple media outlets report the California-based company made the announcement Monday.
With the addition of One Shell Square, Hertz now owns more than one-third of the prestigious Class A office buildings in New Orleans.
As part of the deal, the company has also purchased three buildings in Birmingham, Alabama; one in Columbia, South Carolina; and one in Greensboro, North Carolina.
Company chairman Judah Hertz says the properties were acquired from a public real estate investment trust that was leaving the region.
One Shell Square, which was completed in 1972, is a 51-story office tower. It contains more than 1.2 million square feet of space and is over 90 percent leased.
