he commercial real estate utilized by Lumen Foods can be broken down into three separate properties, all adjoining along the intersection of Hodges and Scott Streets in Lake Charles. (Numerous pictures, architectural drawings, and plats on these properties can be seen on our rental property page.)
The last time that a formal appraisal of these properties were conducted was October, 1997; and with the exception of the removal of two old barns on the property that were never utilized by Lumen Foods, the properties remain in much the same condition they were in 1997. (There was soffit and roof damage as a result of Hurricane Rita in 2005 -- but the damage has been repaired over the last nine months.) The links in the right column provide all the pages to all three appraisals which assigned the following values to Lumen Foods' properties:

1	409 Scott Street	$104,000
2	2116-2128 Hodges Street	$137,000
3	2200-2202 Hodges Street	$112,000
	Total	$353,000

The first two properties were purchased together and have been called "The Wilshire Property" since they were acquired. We paid $225,000 in 1995 for Wilshire (not $220,000 as one document has stated).
The third property we call "The Thermal Building," because of the name of the tenant before we purchased the building for $43,000 in December, 1993.

Thus, Herbologics, Ltd. paid $268,000 for these properties from 1993 to 1995. And in order to sell Lumen Foods, is now selling this property for less it was originally purchased -- despite appreciation to real estate in this area over the intervening 11+ years.