The French Settlement retail building at 108 South Beach Blvd. in Old Town Bay St. Louis has new owners – New Orleans developers Jim and Catherine MacPhaille.

Sale of the 6,395-square-foot building and land closed Wednesday, according to Regan Kane of John McDonald Realty who represented the MacPhailles in the purchase.The previous owner was Bay St. Louis Building LLC. of Colorado. The property had been on the market since September 2015.

The price listed on the Realtor’s website was $1.5 million.

The two-story building has a courtyard and alley access to Main Street. It currently has two tenants, the Bonner Collection downstairs and Green Canyon Outfitters upstairs. The new owners are in talks to lease the remainder of the first floor for a restaurant.

MacPhaille developed several houses in Cedar Point near the Yacht Club in 2012. He also is the owner of the old Second Street school. That project is in the design phase.

Jeanne Baxter was the listing agent on the French Settlement property.