Restaurant IPO owners buy building

The owners of Restaurant IPO have purchased the downtown building that houses their business for $2.2 million.

IPO Baton Rouge Properties LLC purchased the building at the corner of Third and Laurel streets, according to documents filed Thursday with the East Baton Rouge Clerk of Court’s Office. The seller was Riverside Mall LLC, a partnership between Dyke Nelson and David Weinstein. Nelson and Weinstein are currently redeveloping the former Capital One bank across Third Street from Restaurant IPO into 440 on Third, a mixed-use building. It will house a Matherne’s Supermarket, the local offices for USAgencies and 65 apartments.

Brandt Broussard, who co-owns Restaurant IPO and the Breakroom at IPO with Eric and Lawrence Macicek, said no major changes are in store for the building. The 11,700-square-foot building is also home for the Third Street Pub.

“We’re just going to continue business as usual,” Broussard said. “As time goes on, we will upgrade the building.”

Broussard said the partners bought the building because they “like where downtown is headed” and they wanted to make an investment in the area.

Follow Timothy Boone on Twitter, @TCB_TheAdvocate.