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Broussard, LA

GHX Industrial

Address:
4927 Highway 90 East, Broussard, LA 70518
Property Type:
Single Tenant
Price:
$1,125,000
Cap Rate:
8.00% cap
NOI:
$90,000
Square Feet:
18,775 sqft
Lot Size:
3.05 acres
Price Per Square Foot:
$59.92
Year Built:
1996
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Investment Highlights

Investment Highlights

Investment Highlights

• Recent Lease Extension Shows GHX’s Commitment to the Real Estate
• Property Sits on 3.05 Acres and is Set Up with Outside Storage as Well as Potential for Expansion
• Triple-Net Lease with Limited Landlord Responsibilities for Out-of-Market Owners
• Below-Market Rental Rate for Tenant Creates Opportunity to Re-Lease at Competitive Market Rate
• Recent Pandemic Instability Did Not Affect the Outlying Lafayette Parish Submarket, Resulting in a Tight 3.5% Vacancy Rate
• Rents Grew by 3.9% Over the Past 12 Months, Exceeding the 2.4% Average Annual Change Over the Past Decade
• Strategically Located Industrial Warehouse with Access to U.S. Highway 90 East and Proximate Access to Major Freeways

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 4927 Highway 90 East in Broussard, Louisiana, leased to GHX Industrial. The subject property consists of approximately 18,775 square feet of space and is situated on 3.05 acres of land, providing outside storage and the possibility for expansion. The triple-net lease allows limited landlord responsibility for out-of-market owners and the recent lease extension shows GHX’s commitment to the real estate. In addition, the below-market rental rate for the tenant creates an opportunity to re-lease at a competitive market rate. The asset is a strategically located industrial warehouse with access to U.S. Highway 90 East and proximate access to major freeways. Recent pandemic instability did not affect the Outlying Lafayette Parish Submarket, resulting in a tight 3.5 percent vacancy rate. Rents grew by 3.9 percent over the past 12 months, exceeding the 2.4 percent average annual change over the past decade.

GHX Industrial, LLC is a highly recognized value-added distributor and fabricator of industrial gaskets and hoses. With 44 locations across North America, their inventory consists of a wide range of gasket materials, hoses, fittings, textiles, and expansion joints. GHX is able to cover a broad spectrum of applications for the industries they serve. GHX is the leader in providing solutions to static sealing (gaskets) and fluid transfer (hoses) with top quality fabrication, capabilities, and programs tailored to help customers reduce downtime and increase throughput. (ghxinc.com)

The city of Broussard, Louisiana, boasts a rapidly growing economic climate to match its geographical one. Southern hospitality and charm, combined with hot growth opportunities and cutting edge 21st century technology in this Cajun country heartland, is hitting the top of the charts and headlines for its economic expansions. (cityofbroussard.com)

 

BROKER OF RECORD
CHRIS SHAHEEN
Louisiana Broker of Record
10527 Kentshire Court, Suite B
Baton Rouge, LA 70810
Tel: 972.755.5223
Chris.Shaheen@marcusmillichap.com
License: LA: BROK.0995692662-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: ZAB0060126)