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Independence, LA

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
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* By downloading the Marketing Package (Offering Memorandum) you hereby agree to the CONFIDENTIALITY AND BUYER REGISTRATION AGREEMENT.

Investment Highlights

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)

BROKER OF RECORD
CHRIS SHAHEEN
Louisiana Broker of Record
10527 Kentshire Court, Suite B
Baton Rouge, LA 70810
Tel: (225) 376-6800
chris.shaheen@marcusmillichap.com
License: BROK.0095692662-ACT
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2021 Marcus & Millichap. All rights reserved. (Activity ID: ZAC0060123)