Armour Eckrich














- Address:
- 142 Tortorice Ln, Independence, LA 70443
- Property Type:
- Single Tenant
- Price:
- $1,220,000
- Cap Rate:
- 8.00% cap
- NOI:
- $97,656
- Square Feet:
- 8,800 sqft
- Lot Size:
- 1.87 acres
- Price Per Square Foot:
- $138.64
- Year Built:
- 2013
-
Marketing Package*
Investment Highlights
Investment Highlights
• Strategically Located Industrial Warehouse with Proximate Access to Major Freeways
• Situated on Excess Land Allowing for Ample Parking and Storage as Well as Future Expansion
• Triple-Net Lease, Minimizing Landlord Responsibility
• Armour Eckrich Meats- 150 Years of Innovating and Providing Convenient Meal Solutions for Families Nationwide
• This Facility Serves as One of Armour Eckrich’s Direct Delivery Centers
• The Facility is Located Less than a Mile from a Piggly Wiggly, the Town’s Main Grocery Store
Investment Overview
Marcus & Millichap is pleased to present the opportunity to acquire the property located at 142 Tortorice Lane in Independence, Louisiana, leased to Armour-Eckrich Meats. The subject property consists of approximately 8,800-square feet of space and is situated on 1.87 acres of land. The asset features 34 parking spaces, three dock-high doors, 500-square feet of office space, and 2,640-square feet of cold storage/freezer space. With excess land allowing for ample parking and storage, there is also opportunity for future expansion. The triple-net lease in place minimizes landlord responsibility. This facility serves as one of Armour Eckrich’s direct store delivery centers. Armour Eckrich Meats has 150 years of innovating and providing convenient meal solutions for families nationwide. This strategically located industrial warehouse has proximate access to major freeways and is located less than a mile from a Piggly Wiggly, the town’s main grocery store.
Industrial rents in the Hammond Market were rising at a 3.6 percent annual rate during the first quarter of 2021, and have posted an average annual gain of 4.9 percent over the past three years. While 130,000-square feet has delivered over the past three years (a cumulative inventory expansion of 1.7 percent), nothing is currently underway. Vacancies in the metro were somewhat above the 10-year average as of 2021 Q1, but were essentially unchanged over the past four quarters. (CoStar) More businesses are taking advantage of Tangipahoa Parish’s and Louisiana’s code for success: competitive incentives, a skilled workforce, a business-friendly tax environment and a unique quality of life. (townofindy.com)