Peter Mayer's historic headquarters for sale in the CBD, as firm plans to relocate

I heard the owner was relocating to the Northshore recently. NOLA

Peter Mayer, the state’s largest advertising agency, is leaving its longtime home on Camp Street in the Central Business District when its lease expires June 30, and the three-building complex that has housed the agency since 1979 is up for sale.

Peter Mayer owner Michelle Edelman says she has been planning for the firm’s relocation since she acquired the agency in February from brothers Mark and Josh Mayer, whose father, the late Peter Mayer, founded the firm in 1967.

The Mayers retained ownership of the 40,000-square foot property in the transaction and have been leasing the space back to the agency.

“They’re in a prime location and pricing, historically, for those kinds of properties would be as high as $200 per square foot,” said Baldwin Justice, a commercial appraiser with McEnery Co. “That might be a little ambitious now, with inflation, interest rates and local market crime. They might encounter some headwinds. But you could see as much as $200 per square foot.”