Nov. 3, 2016 03:13 PM

Chad Ortte, now a Baton Rouge developer, purchased the Freetown property, which includes three buildings, for $450,000.

This former Oncologics location at 917 General Mouton Ave. is one of three buildings purchased recently by Chad Ortte, who is originally from Lafayette.

Chad Ortte, a Lafayette native now living in Baton Rouge, has purchased the former OncoLogics site in the Freetown area.

Ortte’s Freetown Properties LLC purchased the property, located on the corner of General Mouton Avenue and Coolidge Street, for $450,000. The property includes three office buildings on approximately 2.2 acres of land and had been listed on the market for $1.4 million for more than two years. The addresses are 917 General Mouton – 11,480 square feet, 220 Coolidge – 2,054 square feet and 210 Coolidge – 2,343 square feet.

The sale, according to a press release from Keaty Real Estate, represents the first significant acquisition in the area since Freetown was designated a historic district in early 2016.

A real estate developer who specializes in mixed-use, urban-infill development, Ortte has led multiple neighborhood revitalization projects around Baton Rouge and had been searching for a real estate investment opportunity in Lafayette for years. He acquires under-developed land in urban areas with the potential for redevelopment.

The OncoLogics property caught his attention because it is located within one mile of Lafayette General, the Oil Center, UL’s campus, Downtown and the Lafayette Regional Airport, Ortte says in the release.

Ortte plans to offer the buildings for lease, at least for now. He says they were well maintained by the previous owner and are ready to occupy. They are being marketed for lease by Tim Skinner with Keaty Real Estate, who along with Adam Angers brokered the sale of the property.

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