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Broussard, LA

Jared Drive Portfolio

Address:
108, 205, 212, 226, 230 Jared Drive, Broussard, LA 70518
Property Type:
Single Tenant
Price:
$2,300,000
Cap Rate:
7.74% cap
NOI:
$177,984
Square Feet:
20,000 sqft
Lot Size:
1.77 acres
Price Per Square Foot:
$115.00
Year Built:
2012/2013/2014
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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

• Industrial Warehouse Portfolio Containing 20,000 Square Feet
• Five Separate Buildings Sitting on 1.77 Acres of Land
• All Buildings are Fully Occupied with Triple-Net Leases, Allowing for Minimal Landlord Responsibilities
• Staggered Leases Create Opportunity to Add Value with Income Still Being Produced
• Tight Market Vacancy Rate Creates A Tough Entry Market
• Vacant Properties Can Be Leased Quickly Due to Submarket’s Short Average Months on Market

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the warehouse portfolio located at 108, 205, 212, 226, and 230 Jared Drive in Broussard, Louisiana. The subject properties consist of approximately 20,000 total square feet of space and are situated on a combined 1.77 acres of land. The asset features five separate buildings, all fully occupied with triple-net leases allowing for minimal landlord responsibilities. The staggered leases create opportunity to add value with income still being produced. The submarket’s tight vacancy rate creates a tough entry market and with short months on market, vacant properties can be leased quickly if necessary.

Outlying Lafayette Parish contains about 4.9 million square feet of industrial space, which represents a sizable chunk of Lafayette’s industrial inventory. The recent instability has not made a huge impact on the vacancy rate (3.9 percent), which has only edged up slightly in the past 12 months. Over the past five years, the submarket has posted net absorption of about 58,000 square feet per year, on average. Rents grew at a strong clip of 4 percent over the past year. Roughly 31,000 square feet has delivered over the past three years, representing a modest inventory expansion of 0.6 percent. Industrial properties have traded with regularity in recent years, and last year, the number of sales significantly exceeded the three-year average. (CoStar)

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

BROKER OF RECORD
CHRIS SHAHEEN
Louisiana Broker of Record
10527 Kentshire Court, Suite B
Baton Rouge, LA 70810
Tel: 901.620.3600
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: ZAC0060184)