American eagle federal credit union

Banks are taking prime real estate in Baton Rouge. American Gateway Bank and Eagle Federal Credit Union are among them.

American Gateway signed a deal to build a branch on Jefferson Highway near the entrance of Bocage subdivision.

The bank will start building a 2,600-square-foot branch within 90 days, said Kurz & Hebert Commercial Real Estate's Mark Hebert, who brokered the deal. He said the seller of the property is Sherwood South Investment. American Gateway, formerly Bank of West Baton Rouge, already has three Baton Rouge branches--on Perkins Road, Florida Boulevard and Old Hammond Highway.

The new branch will give the bank a presence on Baton Rouge's golden mile, a stretch of Jefferson between Corporate and Essen that has become a magnet for upscale retailers, housing and offices.

Eagle Federal, which serves state employees, is building a new head: quarters on the corner of Bankers Avenue and College Drive, a block from Corporate Boulevard.

Eagle purchased the land for the headquarters from Phil Witter.

Eagle CEO Ginger Manint said no plans are drawn but the headquarters could go up in 2005. The credit union, which has 9,500 members statewide, is currently on North Boulevard.

Eagle Federal bought 111,000 square feet from a Witter entity, Aldrich Acres LLC, for $1.2 million.

Eagle also is opening its first branch in September in the Galvez Parking Garage and plans an expansion into Denham Springs.

Eagle is purchasing property located at the intersection of Del Este Avenue and Del Orleans Avenue in Denham Springs for a 2,000-square-foot branch.

The branches in the parking garage and Denham Springs will be the first two for Eagle.