701 Loyola Avenue, New Orleans, Louisiana
The McEnery Company was engaged to complete a market-value appraisal of the New Orleans Processing and Distribution Center at 701 Loyola Avenue, New Orleans, Louisiana, in the Central Business District. The 9.03-acre site is improved with 607,763 square feet in two buildings: a two-story, 357,303-square-foot regional mail plant occupied by the United States Postal Service, and a 14-story, 250,460-square-foot office tower, plus a seven-story parking garage. The improvements were constructed in 1964, with new roofing and mechanical updates in 2025. An adjoining tract along Julia Street is held under a City of New Orleans ground lease used for supplemental parking and loading. The assignment required a fee-simple, as-is market value conclusion under USPAP and the USPS market-value appraisal specifications, supported by land valuation and the sales comparison approach, for a special-purpose federal facility on a redevelopment-oriented CBD site.
