NEW ORLEANS DEVELOPER ACQUIRES BUILDING FOR MEDICAL AND TECHNOLOGY CENTER

NEW ORLEANS — New Orleans-based Downtown Development Group (DDG) has purchased UNO Technology Enterprises, a 124,000-square-foot, 14-story office building in New Orleans, from the University of New Orleans Foundation, for $3.6 million. DDG will redevelop the site into The Canal Medical and Technology Center, a $16 million private, Class A medical and technology office building that will start construction in April and is slated for completion in August. The project is located at 1600 Canal St., next to the new Tulane Medical Center building, and will include lobby floor retail space, a restaurant, rooftop dining cabana, concierge services and a bank. Miami-based Imbruglia Construction is the general contractor, and New Orleans-based Steven Finegan Architects is designing the project. Skip Weber of New Orleans-based Latter & Blum Realtors represented the buyer, and Brian Rourke of Latter & Blum represented the seller in the transaction.