KEY TAKEAWAYS: One Canal Place sold to Skysoar Capital Partners affiliate Corporate Realty to continue management and leasing roles Baker Donelson signs major lease for top two floors   One Canal Place, a landmark Class A office tower in downtown New Orleans, has been sold to a new owne rship group. The 32-story building at 365 Canal St. was acquired by One Canal Place Leasing LLC, an entity formed by Skysoar Capital Partners. Financial terms of the transaction were not disclosed. Corporate Realty, which has managed and leased the property since 1991, will continue in both roles under the new ownership. Andrea Arons Huseman will remain in charge of leasing, while Neila Gorrell will oversee administrative, accounting and engineering operations. The seller, OCP Office Owner LLC — a partnership between Loeb Partners Realty and Aetna — had owned the property since 2002. The transaction was brokered by CBRE, with Johnny Lamberson and Terry Radford representing the seller and Corporate Realty assisting locally. The acquisition of one of the city’s most prominent office towers underscores optimism about the New Orleans office sector, even as many U.S. markets continue to navigate post-pandemic workplace shifts. “One Canal Place has been part of our cityscape for more than 50 years,” said Michael J. Siegel of Corporate Realty. “It sits at the nexus of the Central Business District and the French Quarter,” he added, noting the building’s access to amenities and its long-standing role in the city’s commercial core. Completed in 1979, the tower includes more than 630,000 rentable square feet and is part of a mixed-use complex that features The Shops at Canal Place, The Westin New Orleans, and a 1,650-space parking garage. The property sits near the Mississippi River and within walking distance of major attractions including the Ernest N. Morial Convention Center and the French Quarter. The building houses a range of tenants, including law firms and government offices. Recently, Baker Donelson signed a lease for more than 40,000 square feet across the top two floors, marking one of the latest significant commitments to the property. Previous ownership invested in upgrades to common areas and infrastructure over the past two decades, improvements that helped maintain the tower’s status as a premier office destination. Corporate Realty executives said they expect to continue enhancing the property under the new ownership, with additional improvements planned. “Corporate Realty is pleased to have been selected by the new ownership for management and leasing,” Siegel said, adding the firm aims to further strengthen the building’s position in the local office market. ...read more read less